Telecom Argentina (NYSE:TEO) Lowered to Sell Rating With $14.00 Target Price …

Goldman Sachs Analyst Rating Change Telecom Argentina NYSE:TEO

Telecom Argentina (NYSE:TEO) Downgrade of Rating

In an analyst note sent to investors today, Goldman Sachs cut shares of Telecom Argentina (NYSE:TEO) to Sell rating from Neutral rating. The firm currently has a $14.00 price target on the stock. Goldman Sachs’s price target suggests a potential downside of -6.23% from the stock’s last stock price.

The firm’s rating downgrade is noticed by equity trades, as NYSE:TEO is now trading 0.00% lower at $14.93 as of 08:56 New York time. Telecom Argentina’s stock is down -28.67% over the past 200 days. It has underperformed the SP500 Index, which has declined -6.24% over the same time period.

Out of 8 brokers covering Telecom Argentina, 2 rate it a Buy, 2 indicate a Hold while 4 suggest a Sell. The highest target is $26 and the lowest is $13 according to Thomson/First Call. The 12-month mean target is $19.19, which means upside potential of 28.53% over the current price.

NYSE:TEO Price Chart Trend

The stock price of Telecom Argentina plunged 28.67% over the last 200 days, and is in strong down trend. In the last 50 and 100 days, Telecom Argentina is down 20.03% and down 26.79%, respectively. Our stocks momentum model is shown on the price chart below. Telecom Argentina (NYSE:TEO) Lowered to Sell Rating With $14.00 Target Price by Analysts at Goldman Sachs from Neutral Rating

Source: RightEdge Systems, Yahoo Split Dividend Adjusted Data and OctaFinance Trading Models

Telecom Argentina (NYSE:TEO) Profile

Telecom Argentina S.A. provides fixed-line telecommunications services and other telephone-related services, such as international long-distance service, data transmission, information technology (IT) solutions outsourcing and Internet services. The Company provides mobile telecommunications services and international wholesale services. It operates in three segments: Fixed Telecommunications Services (Fixed Services), Personal Mobile Telecommunications Services (Personal Mobile Services) and Nucleo Mobile Telecommunications Services (Nucleo Mobile Services).

Telecom Argentina (NYSE:TEO) closed at $14.93 yesterday. A total of shares of the company’s stock traded hands. This is down from average of 128,788 shares. Telecom Argentina has a 52 week low of $14.28 and a 52 week high of $26.39. The company has a market cap of $2.10B and a P/E ratio of 7.15.

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