Deutsche Bank Downgrades Telecom Argentina (TEO) to Hold
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Deutsche Bank downgrades Telecom Argentina (NYSE: TEO) from Buy to Hold and lowers its price traget from $29 to $24.
The firm said TEO's Q4 earnings showed evidence that the Company continues to feel increasing pressure from tightening margins. Deutsche believes this will continue "as long as Argentine inflation remains high."
Telecom Argentina S.A., through its subsidiaries, provides fixed-line public telecommunications services, international long-distance service, data transmission, Internet services, and directories publishing services in Argentina. [bcs]
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