Telecom Argentina (NYSE:TEO) Downgrade of Rating
New York-listed Telecom Argentina (NYSE:TEO), was cut by investment analysts at Goldman Sachs. Goldman Sachs cut its rating on the $2.10 billion market cap company to “Sell” from a previous “Neutral”, but maintained its target price per share of $14.00 on TEO shares.
The rating downgrade was most probably noticed by stock speculators, as NYSE:TEO is at the moment 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 Standard Poor’s 500 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.
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 $2.10 billion and a P/E ratio of 7.15.
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