Telecom Corporation of New Zealand (TEL) Shares Recommendation

ABN Amro have upgraded their recommendation from Sell to Hold for the Telecom Corporation of New Zealand (TEL) stock with a share price target of NZ$4.15 from NZ$4.20. The broker's upgrade in recommendation reflects the share price now being in line with its valuation, which has been revised to reflect the new regulatory environment the company faces.

Telecom Corporation of New Zealand Limited is listed on the Australian Stock Exchange (ASX) under stock code TEL. You can view their investor website here. TEL was a loser of the week in early May 2006. The company is the principal supplier of local, national and international telecommunications services from New Zealand including cellular, directories, leased circuits, mobile radio, paging, data communications, and the distribution of telecommunications equipment. Check your charts!