Telecom Argentina (NYSE:TEO) Given New $8.30 Price Target at The Goldman Sachs Group

Telecom Argentina (NYSE:TEO) had its price objective boosted by The Goldman Sachs Group from $7.30 to $8.30 in a report published on Wednesday morning,Benzinga reports. The firm currently has a sell rating on the utilities provider’s stock.

A number of other equities analysts have also recently weighed in on TEO. Scotiabank cut shares of Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and upped their price target for the stock from $5.70 to $6.10 in a research note on Friday, September 20th. StockNews.com upgraded shares of Telecom Argentina from a “sell” rating to a “hold” rating in a report on Wednesday.

Telecom Argentina Trading Down 3.3 %

Shares of TEO opened at $13.00 on Wednesday. The stock has a fifty day moving average price of $9.15 and a 200-day moving average price of $8.03. Telecom Argentina has a 12 month low of $5.52 and a 12 month high of $14.13. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.31.

Institutional Trading of Telecom Argentina

A number of hedge funds have recently made changes to their positions in the stock. PFG Investments LLC bought a new stake in Telecom Argentina in the 2nd quarter worth about $104,000. Cubist Systematic Strategies LLC bought a new position in shares of Telecom Argentina during the 2nd quarter worth $334,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Telecom Argentina during the 2nd quarter valued at $174,000. Centiva Capital LP acquired a new position in Telecom Argentina during the third quarter valued at $123,000. Finally, Stifel Financial Corp purchased a new position in shares of Telecom Argentina during the 3rd quarter valued at approximately $91,000.

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.