Telecom Italia (OTCMKTS:TIIAY) Upgraded at Zacks Investment Research

Telecom Italia (OTCMKTS:TIIAYGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a report issued on Tuesday, Zacks.com reports. The firm currently has a $3.00 price target on the stock. Zacks Investment Research‘s price target suggests a potential upside of 14.94% from the stock’s previous close.

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 equities research analysts also recently issued reports on the stock. Berenberg Bank reduced their price objective on shares of Telecom Italia from €0.48 ($0.51) to €0.37 ($0.39) in a research report on Friday, February 25th. Barclays increased their target price on shares of Telecom Italia from €0.13 ($0.14) to €0.16 ($0.17) in a research report on Tuesday, April 26th. Finally, Bryan, Garnier & Co raised shares of Telecom Italia from a “neutral” rating to a “buy” rating in a research report on Monday, March 14th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $1.18.

TIIAY traded down $0.09 during midday trading on Tuesday, hitting $2.61. The company had a trading volume of 171,453 shares, compared to its average volume of 221,547. Telecom Italia has a 52 week low of $2.48 and a 52 week high of $5.65. The stock’s 50 day moving average price is $3.19 and its 200 day moving average price is $4.14.

Telecom Italia Company Profile (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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