BofA/Merrill Lynch Upgrades Telecom Argentina (TEO) to Buy
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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.
Shares of Telecom Argentina closed at $25.34 Friday.
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