Telecom Italia (OTCMKTS:TIIAY) Rating Increased to Hold at Zacks Investment Research

Telecom Italia (OTCMKTS:TIIAYGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday, Zacks.com reports.

According to Zacks, “The Telecom Italia Group is engaged principally in the communication sector that operates mainly in Europe, the Mediterranean Basin and South America. This includes telephone and data services on fixed lines (for final retail customers and wholesale providers), the development of fiber optic networks for wholesale customers, BroadBand services, Internet services, domestic and international mobile telecommunications (especially in Brazil), and the television sector using both analog and digital terrestrial technology. The Group also operates businesses in the office products sector. “

A number of other brokerages have also recently issued reports on TIIAY. Berenberg Bank cut their price objective on Telecom Italia from €0.48 ($0.52) to €0.37 ($0.40) in a report on Friday, February 25th. Barclays lifted their price target on Telecom Italia from €0.13 ($0.14) to €0.16 ($0.17) in a report on Tuesday. Finally, Bryan, Garnier & Co raised Telecom Italia from a “neutral” rating to a “buy” rating in a report on Monday, March 14th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $1.68.

Shares of OTCMKTS TIIAY opened at $2.90 on Thursday. The business has a fifty day moving average of $3.44 and a two-hundred day moving average of $4.21. Telecom Italia has a 52-week low of $2.48 and a 52-week high of $5.65.

About Telecom Italia (Get Rating)

Telecom Italia S.p.A., together with its subsidiaries, provides fixed and mobile telecommunications services in Italy and internationally. 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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