Telecom Italia’s (TI) Buy Rating Reiterated at Canaccord Genuity

Canaccord Genuity reissued their buy rating on shares of Telecom Italia (NYSE:TI) in a research report released on Tuesday morning. The firm currently has a $1.25 target price on the utilities provider’s stock.

Other equities analysts have also issued reports about the company. TheStreet lowered Telecom Italia from a c- rating to a d rating in a research report on Friday, November 9th. Morgan Stanley lowered Telecom Italia from an overweight rating to an equal weight rating in a research report on Tuesday, November 13th. Zacks Investment Research upgraded Telecom Italia from a sell rating to a hold rating in a research report on Wednesday, December 26th. Goldman Sachs Group lowered Telecom Italia from a buy rating to a neutral rating in a research report on Tuesday, November 27th. Finally, New Street Research lowered Telecom Italia from a buy rating to a neutral rating in a research report on Tuesday, January 22nd. Seven analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $6.43.

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Shares of Telecom Italia stock opened at $6.03 on Tuesday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.73 and a current ratio of 0.76. The stock has a market cap of $12.86 billion, a PE ratio of 8.87 and a beta of 0.66. Telecom Italia has a 12 month low of $4.94 and a 12 month high of $11.28.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new position in shares of Telecom Italia in the 3rd quarter valued at approximately $148,000. Wetherby Asset Management Inc. lifted its stake in shares of Telecom Italia by 20.0% in the 4th quarter. Wetherby Asset Management Inc. now owns 13,033 shares of the utilities provider’s stock valued at $72,000 after purchasing an additional 2,168 shares during the period. Virtu Financial LLC lifted its stake in shares of Telecom Italia by 143.6% in the 4th quarter. Virtu Financial LLC now owns 35,620 shares of the utilities provider’s stock valued at $198,000 after purchasing an additional 20,999 shares during the period. Blair William & Co. IL purchased a new position in shares of Telecom Italia in the 3rd quarter valued at approximately $178,000. Finally, Cerity Partners LLC lifted its stake in shares of Telecom Italia by 11.7% in the 4th quarter. Cerity Partners LLC now owns 19,969 shares of the utilities provider’s stock valued at $111,000 after purchasing an additional 2,086 shares during the period. Institutional investors own 0.75% of the company’s stock.

About Telecom Italia

Telecom Italia S.p.A., together with its subsidiaries, provides fixed and mobile telecommunications services in Europe, the Mediterranean Basin, and South America. It offers landline and mobile telecommunications, voice, messaging, data, Internet, and broadband services for consumers, as well as for small and medium-size enterprises, small offices/home offices, public sector clients, large accounts, and enterprises in the fixed and mobile telecommunications markets.

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Analyst Recommendations for Telecom Italia (NYSE:TI)

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