Telecom Italia (OTCMKTS:TIIAY) Trading 6.5% Higher – Here’s What Happened

Telecom Italia S.P.A. (OTCMKTS:TIIAY) shares traded up 6.5% on Friday . The company traded as high as $9.25 and last traded at $9.23. Approximately 19,626 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 38,058 shares. The stock had previously closed at $8.6650.

Analysts Set New Price Targets

Several research analysts have commented on TIIAY shares. Kepler Capital Markets reiterated a “hold” rating on shares of Telecom Italia in a report on Wednesday, June 24th. Barclays reaffirmed an “overweight” rating on shares of Telecom Italia in a research note on Friday, August 7th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold”.

Telecom Italia Stock Performance

The company has a 50 day simple moving average of $8.85 and a two-hundred day simple moving average of $8.37.

About Telecom Italia

Telecom Italia S.p.A., operating under the TIM brand, is an Italian telecommunications company that provides fixed-line and mobile communications, broadband internet, digital services and information and communications technology solutions. Its offerings serve consumers, businesses and public-sector organizations and include voice and data connectivity, fiber and other broadband access, cloud services, cybersecurity, data-center capabilities and related enterprise solutions.

The company’s principal market is Italy, where TIM operates telecommunications networks and provides retail and wholesale services.