TIM Participacoes SA (NYSE:TSU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to 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%. “

TSU has been the topic of several other research reports. Bank of America Corp. upgraded shares of TIM Participacoes SA from a “neutral” rating to a “buy” rating in a research note on Tuesday, July 26th. RBC Capital Markets lowered shares of TIM Participacoes SA from an “outperform” rating to a “sector perform” rating in a research note on Friday, August 5th. Finally, Barclays PLC raised their target price on shares of TIM Participacoes SA from $11.50 to $12.50 and gave the company an “equal weight” rating in a research note on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. TIM Participacoes SA has a consensus rating of “Hold” and a consensus target price of $12.33.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/zacks-investment-research-upgrades-tim-participacoes-sa-tsu-to-hold.html

Shares of TIM Participacoes SA (NYSE:TSU) traded up 1.09% during midday trading on Wednesday, hitting $12.08. 2,123,056 shares of the company were exchanged. TIM Participacoes SA has a one year low of $7.08 and a one year high of $13.52. The stock has a market cap of $5.85 billion, a PE ratio of 19.17 and a beta of 1.60. The stock’s 50-day moving average is $12.76 and its 200-day moving average is $11.17.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. World Asset Management Inc raised its position in TIM Participacoes SA by 8.1% in the second quarter. World Asset Management Inc now owns 29,968 shares of the company’s stock worth $316,000 after buying an additional 2,258 shares during the last quarter. Ngam Advisors L.P. increased its stake in shares of TIM Participacoes SA by 14.7% in the second quarter. Ngam Advisors L.P. now owns 41,749 shares of the company’s stock worth $440,000 after buying an additional 5,359 shares during the period. CIBC World Markets Inc. increased its stake in shares of TIM Participacoes SA by 16.3% in the second quarter. CIBC World Markets Inc. now owns 14,717 shares of the company’s stock worth $155,000 after buying an additional 2,067 shares during the period. Panagora Asset Management Inc. increased its stake in shares of TIM Participacoes SA by 61.4% in the first quarter. Panagora Asset Management Inc. now owns 53,569 shares of the company’s stock worth $592,000 after buying an additional 20,371 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of TIM Participacoes SA by 4.0% in the first quarter. Legal & General Group Plc now owns 228,695 shares of the company’s stock worth $2,528,000 after buying an additional 8,700 shares during the period.

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.

5 Day Chart for NYSE:TSU

Get a free copy of the Zacks research report on TIM Participacoes SA (TSU)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for TIM Participacoes SA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TIM Participacoes SA and related companies with MarketBeat.com's FREE daily email newsletter.