Telecom Italia SpA (NYSE:TI) has received an average rating of “Hold” from the eight analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $1.25.
Separately, Zacks Investment Research restated a “hold” rating on shares of Telecom Italia in a research report on Saturday, July 13th.
A number of hedge funds have recently modified their holdings of TI. Clearbridge Investments LLC increased its position in Telecom Italia by 0.5% during the 1st quarter. Clearbridge Investments LLC now owns 613,393 shares of the utilities provider’s stock worth $3,852,000 after purchasing an additional 2,914 shares during the period. Redwood Investment Management LLC acquired a new position in Telecom Italia during the 1st quarter worth approximately $507,000. Wetherby Asset Management Inc. increased its position in Telecom Italia by 36.0% during the 2nd quarter. Wetherby Asset Management Inc. now owns 17,446 shares of the utilities provider’s stock worth $96,000 after purchasing an additional 4,617 shares during the period. Corient Capital Partners LLC acquired a new position in Telecom Italia during the 2nd quarter worth approximately $78,000. Finally, Eaton Vance Management acquired a new position in Telecom Italia during the 2nd quarter worth approximately $184,000. Hedge funds and other institutional investors own 0.83% of the company’s stock.
About Telecom Italia
Telecom Italia S.p.A., together with its subsidiaries, provides fixed and mobile telecommunications services in Europe, South America, and the Mediterranean Basin. The company operates through Domestic, Brazil, and Other Operations segments. It offers fixed and mobile voice and Internet, and public telephony services, as well as products managed and developed for individuals and families; and voice, data, and Internet services and products, and information and communications technology solutions for small and medium-size enterprises, small offices/home offices, the public sector, large accounts, and enterprises in the fixed and mobile telecommunications markets.
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