TIM Participacoes SA (NYSE:TSU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “TIM PARTICIPAÇÕES S.A. is a holding company, the single company in Brazil to offer mobile cellular service throughout the Brazilian territory, by means of its subsidiaries TIM Celular S.A. and TIM Nordeste S.A. The company is the largest GSM (Global System for Mobile communications) operator of the country, in terms of clients and revenues and TIM Participações ended the 3Q08 with 35.2 million clients and a market share of 25%. “

A number of other analysts have also recently commented on TSU. RBC Capital Markets cut TIM Participacoes SA from an “outperform” rating to a “sector perform” rating in a research report on Friday, August 5th. Barclays PLC upped their price target on TIM Participacoes SA from $11.50 to $12.50 and gave the stock an “equal weight” rating in a research report on Wednesday, July 27th. Finally, Bank of America Corp. upgraded TIM Participacoes SA from a “neutral” rating to a “buy” rating in a research report on Tuesday, July 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $12.33.

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Shares of TIM Participacoes SA (NYSE:TSU) opened at 11.95 on Wednesday. The company has a market cap of $5.78 billion, a P/E ratio of 18.97 and a beta of 1.60. The company has a 50-day moving average price of $12.76 and a 200-day moving average price of $11.17. TIM Participacoes SA has a 52-week low of $7.08 and a 52-week high of $13.52.

Several hedge funds have recently added to or reduced their stakes in TSU. Brandes Investment Partners LP boosted its stake in TIM Participacoes SA by 0.7% in the second quarter. Brandes Investment Partners LP now owns 17,388,983 shares of the company’s stock valued at $183,454,000 after buying an additional 115,898 shares in the last quarter. Macquarie Group Ltd. boosted its stake in TIM Participacoes SA by 1.7% in the second quarter. Macquarie Group Ltd. now owns 6,767,034 shares of the company’s stock valued at $71,396,000 after buying an additional 112,100 shares in the last quarter. Boussard & Gavaudan Investment Management LLP boosted its stake in TIM Participacoes SA by 3.8% in the second quarter. Boussard & Gavaudan Investment Management LLP now owns 3,039,208 shares of the company’s stock valued at $31,912,000 after buying an additional 109,959 shares in the last quarter. Credit Suisse AG boosted its stake in TIM Participacoes SA by 2.6% in the second quarter. Credit Suisse AG now owns 1,523,717 shares of the company’s stock valued at $16,075,000 after buying an additional 38,973 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in TIM Participacoes SA by 1.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,185,644 shares of the company’s stock valued at $13,113,000 after buying an additional 20,325 shares in the last quarter.

About TIM Participacoes SA

TIM Participacoes SA (TIM) is a provider of mobile telecommunication services in Brazil. The Company, through its subsidiaries in various telecommunications markets, operates mobile, fixed and long distance telephony, data transmission and ultra-broadband services. Its direct subsidiaries include TIM Celular SA, which provides landline telephone services (commuted fixed telephonic service (STFC))-domestic long distance and international long distance voice services, personal mobile service (SMP) and multimedia communication service (multimedia service of communication (SCM)) in all Brazilian states and in the Federal District, and Intelig Telecomunicacoes Ltda., which provides STFC-local voices services and SCM services in all Brazilian states and in the Federal District.

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