TIM (TI) Downgraded by Berenberg Bank to Sell

TIM (NYSE:TI) was downgraded by equities researchers at Berenberg Bank from a “hold” rating to a “sell” rating in a report released on Friday, The Fly reports.

TI has been the topic of a number of other research reports. Goldman Sachs upgraded TIM from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $7.57 to $10.53 in a research report on Thursday, March 8th. Zacks Investment Research downgraded TIM from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. Citigroup downgraded TIM from a “neutral” rating to a “sell” rating in a research report on Wednesday, April 25th. Sanford C. Bernstein upgraded TIM from a “market perform” rating to an “outperform” rating in a research report on Friday, March 2nd. Finally, ValuEngine downgraded TIM from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $7.36.

Shares of TI stock opened at $8.99 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.83 and a debt-to-equity ratio of 1.18. TIM has a 52-week low of $9.10 and a 52-week high of $9.21.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TI. Jane Street Group LLC increased its stake in TIM by 816.8% in the fourth quarter. Jane Street Group LLC now owns 107,994 shares of the utilities provider’s stock valued at $932,000 after acquiring an additional 96,214 shares during the last quarter. Renaissance Technologies LLC increased its stake in TIM by 23.2% in the fourth quarter. Renaissance Technologies LLC now owns 134,900 shares of the utilities provider’s stock valued at $1,164,000 after acquiring an additional 25,394 shares during the last quarter. Finally, Raymond James & Associates increased its stake in TIM by 14.5% in the fourth quarter. Raymond James & Associates now owns 242,315 shares of the utilities provider’s stock valued at $2,091,000 after acquiring an additional 30,751 shares during the last quarter. 0.75% of the stock is currently owned by institutional investors and hedge funds.

About TIM

Telecom Italia S.p.A., together with its subsidiaries, provides fixed and mobile telecommunications services in Europe, the Mediterranean Basin, and South America. It offers landline and mobile telecommunications, voice, messaging, data, Internet, and broadband services for consumers, as well as for small and medium-size enterprises, small offices/home offices, public sector clients, large accounts, and enterprises in the fixed and mobile telecommunications markets.

The Fly

Analyst Recommendations for TIM (NYSE:TI)

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