Zacks Investment Research upgraded shares of Telefonica SA (NYSE:TEF) from a sell rating to a buy rating in a research note issued to investors on Tuesday morning. The brokerage currently has $11.00 target price on the stock.
According to Zacks, “Shares of Telefonica have outshined the Zacks-categorized ‘Diversified Communication Services’ industry over the past three months. We further beleive that Telefonica should benefit from the launch of video services in several Latin-American markets, widespread adoption of broadband and data services, pricing revision, network enhancement and strategic collaborations, continued focus on organic growth and portfolio optimization. Telefonica is successfully capitalizing on the opportunities in the digital world through several growth strategies. Acquisition of E-Plus also bode well. However, the company continues to face stiff competition in the domestic and Latin-American markets and has a debt laden balance sheet. Moreover, Telefonica was downgraded by Moody' Investors Service following its debt-reduction advice to the company by the end of 2016. The fallout of the company’s IPO plans was also a major setback.”
A number of other equities research analysts also recently weighed in on the company. Credit Suisse Group upgraded Telefonica SA to a buy rating in a research report on Friday, October 28th. Royal Bank Of Canada started coverage on Telefonica SA in a research report on Thursday, October 20th. They set an underperform rating on the stock. Deutsche Bank AG upgraded Telefonica SA from a sell rating to a hold rating in a research report on Thursday, December 15th. Societe Generale started coverage on Telefonica SA in a research report on Tuesday, December 6th. They set a hold rating on the stock. Finally, Goldman Sachs Group, Inc. (The) restated a neutral rating on shares of Telefonica SA in a research report on Wednesday, October 19th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $10.13.
Telefonica SA (NYSE:TEF) traded up 0.31% during trading on Tuesday, reaching $9.65. The company’s stock had a trading volume of 472,607 shares. The stock has a market cap of $47.38 billion, a price-to-earnings ratio of 24.06 and a beta of 1.47. The firm has a 50 day moving average price of $9.56 and a 200-day moving average price of $9.61. Telefonica SA has a 52-week low of $8.15 and a 52-week high of $11.43.
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A number of hedge funds have recently bought and sold shares of TEF. Sei Investments Co. boosted its stake in Telefonica SA by 31.4% in the third quarter. Sei Investments Co. now owns 10,905 shares of the company’s stock valued at $110,000 after buying an additional 2,607 shares during the last quarter. Private Advisor Group LLC boosted its stake in Telefonica SA by 7.9% in the fourth quarter. Private Advisor Group LLC now owns 11,537 shares of the company’s stock valued at $111,000 after buying an additional 845 shares during the last quarter. Johnson Investment Counsel Inc. purchased a new stake in Telefonica SA during the third quarter valued at $112,000. Bellecapital International Ltd. purchased a new stake in Telefonica SA during the second quarter valued at $119,000. Finally, Stevens Capital Management LP purchased a new stake in Telefonica SA during the third quarter valued at $128,000. 1.26% of the stock is currently owned by institutional investors and hedge funds.
Telefonica SA Company Profile
Telefonica, SA is an integrated and diversified telecommunications group operating in Europe and Latin America. The Company’s services and products include Mobile business, Fixed-line telephony business and Digital services. The Company’s segments include Telefonica Spain, Telefonica Brazil, Telefonica Germany, Telefonica UK and Telefonica Hispanoamerica.
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