15 Best Penny Stocks to Buy According to Billionaires

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13. Telefónica, S.A. (NYSE:TEF)

Price: $4.70

Number of Hedge Fund Holders: 8

Number of Billionaire Investors: 5

Total Value of Billionaire Holdings: $4,239,587

Telefónica, S.A. (NYSE:TEF) is a Spanish multinational telecommunications conglomerate operating in Europe and Latin America. It provides a comprehensive suite of communication and digital services including Fixed-line and mobile telephony, Cloud hosting, cybersecurity, and more.

In the fiscal fourth quarter of 2024, the company noted that they are prioritizing high-quality markets including Spain, Brazil, Germany, and the UK. These are the markets where the company holds a strong position. Moreover, it also aims to expand 5G technology and take 70% global coverage by 2026. Financially speaking, Telefónica, S.A. (NYSE:TEF) generated €2.6 billion in free cash flow, representing a 14% year-on-year growth, exceeding its guidance of over 10% growth. In addition, the revenue grew by 5.4% in Q4, driven by strong commercial momentum across its markets. On February 12, Barclays raised the firm’s price target on the stock to EUR 4.70 from EUR 4.60 and kept an Equal Weight rating on the shares. It is one of the best penny stocks to buy according to billionaires.

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