HSBC Downgrades Telecom Italia SpA (ADR) to Hold

Brokerage firm HSBC Downgrades its rating on Telecom Italia SpA (ADR)(NYSE:TI). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by HSBC was issued on Jul 14, 2016.

In a different note, On Jul 6, 2016, JP Morgan said it Downgrades its rating on Telecom Italia SpA (ADR). The shares have been rated ‘Neutral’ by the firm.

Telecom Italia SpA (ADR) (TI) made into the market gainers list on Mondays trading session with the shares advancing 3.78% or 0.28 points. Due to strong positive momentum, the stock ended at $7.68, which is also near the day’s high of $7.71. The stock began the session at $7.48 and the volume stood at 1,15,452 shares. The 52-week high of the shares is $14.18 and the 52 week low is $6.95. The company has a current market capitalization of $14,997 M and it has 1,95,27,70,300 shares in outstanding.

Telecom Italia SpA is an Italy-based company engaged in the communications sector. It operates in the fixed and mobile national and international telecommunications sector. Its activities are divided into five business units. The Domestic unit provides telephone and data services on fixed line and mobile networks for retail voice customers and wholesale operators as well as develop fiber optic networks. The Brazil unit offers mobile services using Universal Mobile Telecommunications System (UMTS) and Global System for Mobile Communications (GSM) technologies. The Argentina unit operates in fixed telecommunications through Telecom Argentina and in mobile telecommunications through Telecom Personal and in Paraguay it operates in mobile telecommunications through Nucleo. The Media unit produces of multimedia music platforms satellite channels and television broadcasting platforms. The Olivetti unit operates in the sector of office products and services for Information Technology.

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