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

JPMorgan Chase & Co. upgraded shares of Telecom Argentina (NYSE:TEO) from a neutral rating to an overweight rating in a research note 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.

Other equities research analysts have also recently issued reports about the company. StockNews.com upgraded Telecom Argentina from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. The Goldman Sachs Group increased their price objective on Telecom Argentina from $7.30 to $8.30 and gave the company a “sell” rating in a research note on Wednesday, November 20th.

Telecom Argentina Stock Performance

Telecom Argentina stock opened at $11.06 on Tuesday. The firm has a fifty day simple moving average of $12.36 and a two-hundred day simple moving average of $10.57. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.31. Telecom Argentina has a twelve month low of $5.52 and a twelve month high of $15.53. The company has a market capitalization of $4.76 billion, a PE ratio of -61.44 and a beta of 0.92.

Hedge Funds Weigh In On Telecom Argentina

Hedge funds and other institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Telecom Argentina by 111.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,327,035 shares of the utilities provider’s stock valued at $29,297,000 after purchasing an additional 1,224,369 shares during the period. Bosun Asset Management LLC bought a new stake in shares of Telecom Argentina during the 4th quarter valued at about $1,031,000. JGP Global Gestao de Recursos Ltda. purchased a new position in shares of Telecom Argentina during the fourth quarter valued at about $853,000. Freedom Investment Management Inc. purchased a new stake in Telecom Argentina in the fourth quarter worth about $577,000. Finally, Centiva Capital LP bought a new stake in Telecom Argentina during the 3rd quarter valued at approximately $123,000.

Telecom Argentina Company Profile

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.