Telecom Argentina (NYSE:TEO) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Telecom Argentina (NYSE:TEO) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

TEO has been the topic of several other reports. The Goldman Sachs Group started coverage on shares of Telecom Argentina in a report on Wednesday, October 23rd. They issued a “sell” rating on the stock. Scotiabank lowered Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and raised their target price for the stock from $5.70 to $6.10 in a report on Friday, September 20th.

Telecom Argentina Stock Up 2.7 %

Shares of NYSE TEO opened at $13.20 on Wednesday. Telecom Argentina has a 12 month low of $5.52 and a 12 month high of $14.13. The company has a 50 day simple moving average of $9.35 and a two-hundred day simple moving average of $8.10. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.37 and a current ratio of 0.40.

Institutional Investors Weigh In On Telecom Argentina

A number of institutional investors have recently modified their holdings of TEO. XTX Topco Ltd purchased a new position in Telecom Argentina during the third quarter worth approximately $80,000. Stifel Financial Corp acquired a new stake in Telecom Argentina in the 3rd quarter valued at $91,000. Centiva Capital LP purchased a new stake in Telecom Argentina in the 3rd quarter worth $123,000. Cubist Systematic Strategies LLC purchased a new position in Telecom Argentina during the second quarter valued at $334,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of Telecom Argentina in the second quarter valued at about $174,000.

About Telecom Argentina

Telecom Argentina SA, together with its subsidiaries, provides telecommunications services. The company offers mobile telecommunications services, including voice communications, high-speed mobile Internet content and applications download, online streaming, and other services; and sells mobile communication devices, such as handsets, Modems MiFi and wingles, and smart watches.