Goldman Sachs Group, Inc. (The) Downgrades Telecom Italia S.P.A. (TI) to Neutral

Telecom Italia S.P.A. (NYSE:TI) was downgraded by stock analysts at Goldman Sachs Group, Inc. (The) from a “buy” rating to a “neutral” rating in a note issued to investors on Monday.

Several other analysts have also weighed in on the company. Zacks Investment Research lowered Telecom Italia S.P.A. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Telecom Italia S.P.A. in a research note on Tuesday, August 29th. Finally, Scotiabank reaffirmed an “outperform” rating and issued a $1.80 price objective on shares of Telecom Italia S.P.A. in a research note on Wednesday, November 8th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Telecom Italia S.P.A. presently has a consensus rating of “Hold” and a consensus price target of $6.90.

Shares of Telecom Italia S.P.A. (NYSE:TI) opened at $7.84 on Monday. The company has a quick ratio of 0.92, a current ratio of 0.95 and a debt-to-equity ratio of 1.22. Telecom Italia S.P.A. has a 12 month low of $7.10 and a 12 month high of $10.53.

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Hedge funds have recently made changes to their positions in the company. ETRADE Capital Management LLC acquired a new stake in shares of Telecom Italia S.P.A. during the second quarter valued at about $100,000. Ameriprise Financial Inc. boosted its stake in shares of Telecom Italia S.P.A. by 24.2% during the first quarter. Ameriprise Financial Inc. now owns 15,632 shares of the utilities provider’s stock valued at $141,000 after purchasing an additional 3,050 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Telecom Italia S.P.A. during the second quarter valued at about $158,000. Strategic Global Advisors LLC acquired a new stake in shares of Telecom Italia S.P.A. during the second quarter valued at about $178,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Telecom Italia S.P.A. during the second quarter valued at about $194,000. 0.77% of the stock is currently owned by hedge funds and other institutional investors.

Telecom Italia S.P.A. Company Profile

Telecom Italia S.p.A. (Telecom Italia) operates fixed voice and data infrastructure in Italy, and provides mobile network platforms. The Company focuses on various areas of digital services, including Enriched Communication, Trusted Digital Life, Business Life, Indoor Life, Mobile Open Life and Digital Entertainment.

Analyst Recommendations for Telecom Italia S.P.A. (NYSE:TI)

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