Telefonica (NYSE:TEF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “We expect Telefonica to benefit from the launch of video services in several Latin-American markets, widespread adoption of broadband and data services, pricing revision, network enhancement and strategic collaborations, continued focus on organic growth and portfolio optimization. Telefonica is also capitalizing on the opportunities in the digital world. However, over the past three months, share price of Telefonica declined 5.8% as against the industry's loss of 2.0%. The company continues to face stiff competition in the domestic and Latin-American markets.  Notably, in Latin America, Telefonica competes with large global telecom operators like AT&T and America Movil. The fallout of the company’s IPO plans and downgradation by Moody's Investors Service was a major setback, apart from the company’s debt laden balance sheet.”

TEF has been the topic of a number of other research reports. Credit Suisse Group lowered shares of Telefonica to a “hold” rating in a report on Friday, January 19th. ValuEngine raised shares of Telefonica from a “hold” rating to a “buy” rating in a research note on Monday, November 20th. Raymond James Financial raised shares of Telefonica from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 17th. Jefferies Group raised shares of Telefonica from an “underperform” rating to a “hold” rating in a research note on Friday, February 9th. Finally, Barclays raised shares of Telefonica from an “underweight” rating to an “equal weight” rating in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. Telefonica currently has an average rating of “Hold” and a consensus price target of $11.70.

Shares of Telefonica (NYSE:TEF) opened at $9.33 on Tuesday. Telefonica has a fifty-two week low of $8.99 and a fifty-two week high of $11.64. The company has a current ratio of 0.67, a quick ratio of 0.62 and a debt-to-equity ratio of 1.79. The company has a market cap of $47,800.00, a PE ratio of 18.29 and a beta of 1.27.

Several hedge funds and other institutional investors have recently modified their holdings of TEF. Deutsche Bank AG boosted its stake in shares of Telefonica by 107.1% in the 4th quarter. Deutsche Bank AG now owns 1,695,997 shares of the utilities provider’s stock valued at $16,417,000 after purchasing an additional 877,240 shares during the last quarter. Mondrian Investment Partners LTD boosted its stake in Telefonica by 16.4% during the 4th quarter. Mondrian Investment Partners LTD now owns 4,163,537 shares of the utilities provider’s stock worth $40,303,000 after acquiring an additional 588,000 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in Telefonica during the 3rd quarter worth approximately $4,476,000. Renaissance Technologies LLC boosted its stake in Telefonica by 93.3% during the 4th quarter. Renaissance Technologies LLC now owns 823,529 shares of the utilities provider’s stock worth $7,972,000 after acquiring an additional 397,512 shares during the last quarter. Finally, Assetmark Inc. boosted its stake in Telefonica by 222.8% during the 4th quarter. Assetmark Inc. now owns 517,781 shares of the utilities provider’s stock worth $5,012,000 after acquiring an additional 357,386 shares during the last quarter. 0.91% of the stock is currently owned by institutional investors.

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About Telefonica

Telefonica, SA is an integrated and diversified telecommunications group operating in Europe and Latin America. The Company’s services and products include Mobile business, Fixed-line telephony business and Digital services. Its segments include Telefonica Spain, Telefonica Brazil, Telefonica Germany, Telefonica United Kingdom and Telefonica Hispanoamerica (formed by the Company’s operators in Argentina, Chile, Peru, Colombia, Mexico, Venezuela and Central America, Ecuador and Uruguay).

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