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

Telecom Argentina (NYSE:TEO) had its price objective raised by The Goldman Sachs Group from $7.30 to $8.30 in a research note released on Wednesday morning,Benzinga reports. They currently have a sell rating on the utilities provider’s stock.

Several other research analysts also recently issued reports on TEO. StockNews.com upgraded shares of Telecom Argentina from a “sell” rating to a “hold” rating in a research report on Wednesday. Scotiabank cut Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and boosted their price objective for the stock from $5.70 to $6.10 in a report on Friday, September 20th.

Telecom Argentina Stock Performance

TEO stock opened at $13.00 on Wednesday. Telecom Argentina has a 1-year low of $5.52 and a 1-year 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. The firm has a fifty day moving average price of $9.15 and a two-hundred day moving average price of $8.03.

Hedge Funds Weigh In On Telecom Argentina

A number of large investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC acquired a new stake in shares of Telecom Argentina in the 2nd quarter worth about $334,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Telecom Argentina in the second quarter worth approximately $174,000. Centiva Capital LP bought a new position in shares of Telecom Argentina in the third quarter valued at approximately $123,000. PFG Investments LLC purchased a new position in shares of Telecom Argentina during the second quarter valued at approximately $104,000. Finally, Stifel Financial Corp bought a new stake in Telecom Argentina during the third quarter worth $91,000.

About Telecom Argentina

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.