Telecom Argentina (NYSE:TEO) Upgraded to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Telecom Argentina (NYSE:TEO) from a neutral rating to an overweight rating in a report published on Tuesday, MarketBeat reports. The brokerage currently has $13.00 price target on the utilities provider’s stock, up from their previous price target of $10.00.

Several other equities research analysts have also recently weighed in on TEO. StockNews.com raised Telecom Argentina from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. The Goldman Sachs Group boosted their target price on Telecom Argentina from $7.30 to $8.30 and gave the company a “sell” rating in a research report on Wednesday, November 20th.

Telecom Argentina Stock Performance

Shares of NYSE:TEO opened at $11.81 on Tuesday. The firm has a fifty day simple moving average of $12.39 and a two-hundred day simple moving average of $10.56. Telecom Argentina has a 52 week low of $5.52 and a 52 week high of $15.53. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $5.09 billion, a P/E ratio of -65.63 and a beta of 0.92.

Institutional Trading of Telecom Argentina

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of Telecom Argentina by 113.3% during the fourth quarter. GAMMA Investing LLC now owns 3,917 shares of the utilities provider’s stock valued at $49,000 after buying an additional 2,081 shares during the last quarter. Advisors Preferred LLC bought a new position in Telecom Argentina in the 4th quarter valued at $75,000. Atlas Capital Advisors Inc. purchased a new stake in Telecom Argentina in the fourth quarter worth $106,000. OLD Mission Capital LLC bought a new stake in shares of Telecom Argentina during the fourth quarter worth $133,000. Finally, XTX Topco Ltd purchased a new stake in shares of Telecom Argentina during the third quarter valued at $80,000.

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.