Goldman Sachs Downgrades Telefonica S.A. (ADR) to Neutral

Brokerage firm Goldman Sachs Downgrades its rating on Telefonica S.A. (ADR)(NYSE:TEF). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Goldman Sachs was issued on Jun 28, 2016.

In a different note, On Apr 6, 2016, Credit Suisse said it Upgrades its rating on Telefonica S.A. (ADR). In the research note, the firm Raises the price-target to $9.50 per share. The shares have been rated ‘Neutral’ by the firm.

Telefonica S.A. (ADR) (TEF) made into the market gainers list on Fridays trading session with the shares advancing 1.37% or 0.13 points. Due to strong positive momentum, the stock ended at $9.61, which is also near the day’s high of $9.72. The stock began the session at $9.7 and the volume stood at 17,77,677 shares. The 52-week high of the shares is $15.54 and the 52 week low is $8.34. The company has a current market capitalization of $47,812 M and it has 4,97,51,99,200 shares in outstanding.

Telefonica S.A. is an integrated and diversified telecommunications group operating in Europe and Latin America. The Company operates the following segments: Telefonica Spain Telefonica Brazil Telefonica Germany Telefonica UK and Telefonica Hispanoamerica. These segments are engaged in activities relating to wireline wireless cable Internet television businesses and other digital services in accordance with each location. The Company’s services and products include Mobile business which offers mobile voice services value added services mobile data and Internet services wholesale services corporate services roaming fixed wireless and trunking and paging; Fixed-line telephony business which offers traditional fixed telecommunication services Internet and broadband multimedia services data and business-solutions services and wholesale services for telecommunication operators; and Digital services.

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