Telecom Argentina (NYSE:TEO) Price Target Raised to $8.30

Telecom Argentina (NYSE:TEO) had its price objective increased by The Goldman Sachs Group from $7.30 to $8.30 in a research note published on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the utilities provider’s stock.

A number of other research analysts have also recently commented on the stock. Scotiabank cut shares of Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and upped their price target for the stock from $5.70 to $6.10 in a report on Friday, September 20th. StockNews.com raised shares of Telecom Argentina from a “sell” rating to a “hold” rating in a research report on Wednesday.

Telecom Argentina Trading Up 2.7 %

NYSE TEO opened at $13.20 on Wednesday. The company’s 50-day moving average price is $9.35 and its 200-day moving average price is $8.09. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.31. The stock has a market cap of $5.69 billion, a PE ratio of -73.33 and a beta of 0.82. Telecom Argentina has a 12 month low of $5.52 and a 12 month high of $14.13.

Institutional Investors Weigh In On Telecom Argentina

A number of large investors have recently bought and sold shares of the company. XTX Topco Ltd purchased a new stake in Telecom Argentina in the third quarter valued at approximately $80,000. Stifel Financial Corp purchased a new position in Telecom Argentina in the 3rd quarter valued at about $91,000. Centiva Capital LP purchased a new position in Telecom Argentina in the 3rd quarter valued at about $123,000. Cubist Systematic Strategies LLC purchased a new position in Telecom Argentina in the 2nd quarter valued at about $334,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in Telecom Argentina in the 2nd 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.