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Telefonica Brasil SA (NYSE:VIV)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued on Wednesday. They currently have a $21.00 price target on the stock. Zacks‘s price objective points to a potential upside of 3.55% from the stock’s previous close.

Zacks’ analyst wrote, “We are maintaining our Neutral recommendation on Telefonica Brasil. The company’s bundled offering bolstered by its high-quality service is strengthening its competitive position and thus expanding its market share. The company is also focusing on higher growth areas like data transmission and video services, and is boosting its fiber network, which is expected to deliver decent growth in the future. Although the company registered revenue growth in its mobile business segment in the first quarter, the fixed line segment suffered due to poor performance in fixed voice and access business. Further, weak economic growth, competitive pressure, increased wireless penetration, a weak Brazilian real and regulatory pressure continue to weigh on the stock.”

Other equities research analysts have also recently issued reports about the stock. Analysts at Morgan Stanley downgraded shares of Telefonica Brasil SA to an “equal weight” rating in a research note on Wednesday, May 21st. Separately, analysts at TheStreet downgraded shares of Telefonica Brasil SA from a “buy” rating to a “hold” rating in a research note on Monday, May 12th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $23.75.

Telefonica Brasil SA (NYSE:VIV) traded down 0.15% on Wednesday, hitting $20.25. The stock had a trading volume of 724,503 shares. Telefonica Brasil SA has a 52-week low of $17.78 and a 52-week high of $23.57. The stock has a 50-day moving average of $20.4 and a 200-day moving average of $19.83. The company has a market cap of $22.746 billion and a price-to-earnings ratio of 13.91. Telefonica Brasil SA also was the recipient of a large decline in short interest in June. As of June 13th, there was short interest totalling 5,254,527 shares, a decline of 35.1% from the May 30th total of 8,091,282 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average daily volume of 1,894,776 shares, the short-interest ratio is currently 2.8 days.

Telefonica Brasil SA (NYSE:VIV) last released its earnings data on Tuesday, May 20th. The company reported $0.27 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.32 by $0.05. Analysts expect that Telefonica Brasil SA will post $1.45 EPS for the current fiscal year.

Telefonica Brasil SA, formerly Telecomunicacoes de Sao Paulo SA – Telesp, is a Brazil-based company engaged in the telecommunications sector.

To view Zacks’ full report, visit Zacks’ official website.

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