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Upgrade Alert for Telecom Argentina (TEO)

By Amy Schwartz

Telecom Argentina (NYSE:TEO) was upgraded from Underweight to Neutral at JP Morgan today. The stock closed yesterday at $19.11 on volume of 127,000 shares, above average daily volume of 83,000.

Telecom Argentina SA provides telecommunications services including local, long-distance and international service in Argentina. The Company, through its subsidiaries, also provides cellular telecommunications services and offers paging services.

In the past 52 weeks, shares of Telecom Argentina have traded between a low of $13.36 and a high of $21.10 and closed yesterday at $19.11, which is 43% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

Telecom Argentina (NYSE:TEO) has potential upside of 4.7% based on a current price of $19.11 and analysts' consensus price target of $20.00. Telecom Argentina shares have support at the 50-day moving average (MA) of $18.39 and additional support at the 200-day MA of $16.76.

SmarTrend is tracking the current trend status for Telecom Argentina and will alert subscribers who have TEO in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades telecom argentina

Ticker(s): TEO