2020-04-27 11:02:18 TEO Telecom Argentina
04/27/20 04/2711:02 04/27/2011:02 | Scotiabank ends short call with upgrade of Telecom ArgentinaScotiabank analyst Andres Coello earlier today upgraded Telecom Argentina to Sector Perform from Underperform with a $7 price target. The analyst, who does expect the economic situation in Argentina to improve, advises taking profits on the short position. Coello's dollarized model suggests Telecom Argentina's share price is supported by "minimal consumption levels" in U.S. dollars. Telecom Argentina is a well-run carrier with quality assets, but Argentina's "dismal" macroeconomic outlook is hindering its ability to to create value, Coello wrote in a research note. | |
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