March 04, 2013 at 09:37 AM EST
UPDATE: Jefferies Initiates Portugal Telecom at Hold on Weak Fundamentals
Jefferies initiated coverage on Portugal Telecom (NYSE: PT ) with a Hold rating. Jefferies said, "PT is in the strategic vanguard of the European incumbents, but its fundamental issues of weak mobile pricing power and a consumer under immense duress will take time to work through. Unfortunately, given where we
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