Zacks Investment Research downgraded shares of PHILIPPINE TEL (PHI) from OUTPERFORM to NEUTRAL on May 14, 2013, with a target price of $78.30.
Philippine Long Distance Telephone Company is the country's principal supplier of domestic and international telecommunications services. The company's charter, which extends until 2028, authorizes it to provide virtually every type of telecommunications service. The company has a network of 174 central office exchanges serving the Metro Manila area and other cities and municipalities throughout the country.
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