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Upgrade Alert for Telecom Italia (TI)

By David Diaz

Telecom Italia (NYSE:TI) was upgraded from Neutral to Outperform at Macquarie today. The stock closed yesterday at $8.50 on volume of 74,000 shares, below average daily volume of 449,000.

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 22% above that low price at $8.50 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has remained constant.

Potential upside of 70.1% exists for Telecom Italia, based on a current level of $8.50 and analysts' average consensus price target of $14.46. Telecom Italia shares should first meet resistance at the 50-day moving average (MA) of $10.41 and find additional resistance at the 200-day MA of $11.70.

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

Keywords: analyst upgrades/downgrades telecom italia

Ticker(s): TI