Scotiabank Downgrades Telecom Argentina to Sector Underperform, Raises Price Target to $6.1
Portfolio Pulse from Benzinga Newsdesk
Scotiabank analyst Andres Coello has downgraded Telecom Argentina (NYSE:TEO) from Sector Perform to Sector Underperform, while raising the price target from $5.7 to $6.1.
September 20, 2024 | 12:44 pm
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Scotiabank has downgraded Telecom Argentina to Sector Underperform, indicating a negative outlook, but raised the price target to $6.1, suggesting some potential for price appreciation.
The downgrade to Sector Underperform suggests a negative outlook on Telecom Argentina's performance relative to its sector peers, which could lead to a short-term decline in stock price. However, the raised price target to $6.1 indicates some potential for price appreciation, creating mixed signals for investors.
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