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

Telecom Argentina (NYSE:TEO) was upgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued on Tuesday, MarketBeat.com reports. The brokerage presently has a $13.00 target price on the utilities provider’s stock, up from their prior target price of $10.00. JPMorgan Chase & Co.‘s price objective points to a potential upside of 6.64% from the company’s current price.

A number of other equities analysts have also weighed in on TEO. StockNews.com upgraded shares of Telecom Argentina from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. The Goldman Sachs Group boosted their price objective on shares of 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 Price Performance

TEO stock opened at $12.19 on Tuesday. Telecom Argentina has a 52-week low of $5.52 and a 52-week high of $15.53. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of -67.72 and a beta of 0.92. The firm has a 50 day moving average price of $12.42 and a 200-day moving average price of $10.53. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.37 and a current ratio of 0.40.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in Telecom Argentina by 113.3% in the 4th quarter. GAMMA Investing LLC now owns 3,917 shares of the utilities provider’s stock worth $49,000 after purchasing an additional 2,081 shares in the last quarter. Advisors Preferred LLC purchased a new stake in shares of Telecom Argentina during the 4th quarter valued at about $75,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Telecom Argentina during the 4th quarter valued at about $106,000. OLD Mission Capital LLC purchased a new stake in shares of Telecom Argentina during the 4th quarter valued at about $133,000. Finally, XTX Topco Ltd purchased a new stake in shares of Telecom Argentina during the 3rd quarter valued at about $80,000.

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.