Fri Sep 20 12:41:56 UTC 2024: ## Telecom Argentina’s Stock Rating Downgraded by Scotiabank, While Others Offer Mixed Opinions

**Buenos Aires, Argentina – September 20, 2024:** Telecom Argentina (NYSE: TEO), a leading provider of telecommunication services in Argentina, saw its stock rating downgraded by Scotiabank on Friday. The bank moved the company’s rating from “Sector Perform” to “Sector Underperform,” citing concerns about the company’s future performance.

This news comes just days after StockNews.com upgraded Telecom Argentina’s rating from “Sell” to “Hold” on June 5th. This mixed outlook highlights the uncertainty surrounding the company’s future performance.

Telecom Argentina recently reported its quarterly earnings, posting $0.15 EPS for the quarter, with revenue reaching $967.38 million. While analysts are forecasting 1.71 EPS for the current fiscal year, the company’s recent rating changes raise questions about its growth potential.

Several investors have recently adjusted their holdings in Telecom Argentina, with some increasing their positions and others acquiring new shares. Notably, Jump Financial LLC significantly increased its holdings, while Oaktree Capital Management LP made a smaller but significant increase.

Despite the recent rating downgrade, Telecom Argentina remains a key player in the Argentinian telecommunications market. The company offers a range of services, including mobile communications, high-speed mobile internet, and online streaming. As the company navigates the complex economic landscape in Argentina, its future performance will be closely watched by investors and analysts alike.

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