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Downgrade Alert for Telecom Italia (TI)

By Shiri Gupta

Telecom Italia (NYSE:TI) was downgraded from Buy to Hold at HSBC today. The stock closed yesterday at $7.40 on volume of 129,000 shares, below average daily volume of 449,000.

Potential upside of 95.4% exists for Telecom Italia, based on a current level of $7.40 and analysts' average consensus price target of $14.46. The stock should find initial resistance at its 50-day moving average (MA) of $10.41 and further resistance at its 200-day MA of $11.70.

Telecom Italia share prices have moved between a 52-week high of $14.18 and a 52-week low of $6.95 and closed yesterday at 6% above that low price at $7.40 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.6%.

Telecom Italia S.p.A., through subsidiaries, offers fixed line and mobile telephone and data transmission services in Italy and abroad. The Company offers local and long-distance telephone, satellite communications, Internet access, and teleconferencing services.

SmarTrend recommended that its subscribers protect gains by selling shares of Telecom Italia on April 1st, 2016 by issuing a Downtrend alert when the shares were trading at $10.30. Since that call, shares of Telecom Italia have fallen 29.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades telecom italia

Ticker(s): TI