BofA/Merrill Lynch Upgrades Telecom Argentina (TEO) to Buy

July 3, 2017 8:51 AM EDT
Get Alerts TEO Hot Sheet
Price: $5.05 --0%

Rating Summary:
    5 Buy, 3 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 22 | Down: 13 | New: 31
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BofA/Merrill Lynch upgraded Telecom Argentina (NYSE: TEO) from Neutral to Buy with a price target of $30.00 (from $26.00).

Analyst Rodrigo Villanueva says the merger with Cablevision could generate high synergies citing the potential for meaningful strength to competitive position. Villanueva says the merger terms appear fair.

For an analyst ratings summary and ratings history on Telecom Argentina click here. For more ratings news on Telecom Argentina click here.

Shares of Telecom Argentina closed at $25.34 Friday.

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