Philippine Long Distance Telephone (ADR) (PHI) was Downgraded by Citigroup to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Citigroup advised their investors in a research report released on Aug 3, 2016.
Many Wall Street Analysts have commented on Philippine Long Distance Telephone (ADR). Philippine Long Distance Telephone (ADR) was Upgraded by Credit Suisse to ” Neutral” on May 31, 2016.
Philippine Long Distance Telephone (ADR) closed down -5.06 points or -11.05% at $40.72 with 7,00,268 shares getting traded on Tusday. Post opening the session at $43.06, the shares hit an intraday low of $38 and an intraday high of $43.06 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
Philippine Long Distance Telephone Company (PLDT) is a telecommunications service provider in the Philippines. The Company operates in three business segments including wireless fixed line and others. The Company through its three business segments offers a range of telecommunications services across the Philippines’ fiber optic backbone and wireless fixed line and satellite networks. The Company provides cellular and wireless broadband satellite and other services through its wireless business. The Company’s fixed line business group offers local exchange international long distance national long distance data and other network and miscellaneous services. Other business consists of PCEV an investment holding company.