TIM Participacoes SA (TSU) Rating Increased to Overweight at Barclays PLC
TIM Participacoes SA (NYSE:TSU) was upgraded by equities research analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating in a research report issued on Monday. The firm currently has a $15.00 price objective on the stock, up from their prior price objective of $12.50. Barclays PLC’s price objective points to a potential upside of 13.38% from the company’s previous close.
A number of other equities research analysts also recently weighed in on the company. Bank of America Corp. upgraded TIM Participacoes SA from a “neutral” rating to a “buy” rating in a research report on Tuesday, July 26th. Zacks Investment Research upgraded TIM Participacoes SA from a “sell” rating to a “hold” rating in a research report on Wednesday, September 21st. Finally, RBC Capital Markets downgraded TIM Participacoes SA from an “outperform” rating to a “sector perform” rating in a research report on Friday, August 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $14.00.
Shares of TIM Participacoes SA (NYSE:TSU) traded up 1.15% during midday trading on Monday, hitting $13.23. The company had a trading volume of 2,118,885 shares. TIM Participacoes SA has a 52 week low of $7.08 and a 52 week high of $13.52. The firm’s 50 day moving average is $12.55 and its 200 day moving average is $11.40. The company has a market capitalization of $6.40 billion, a P/E ratio of 20.35 and a beta of 1.75.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. increased its position 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. Nomura Holdings Inc. acquired a new stake in TIM Participacoes SA during the second quarter valued at about $682,000. Royal Bank of Canada boosted its stake in TIM Participacoes SA by 3.9% in the second quarter. Royal Bank of Canada now owns 38,328 shares of the company’s stock valued at $404,000 after buying an additional 1,443 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in TIM Participacoes SA during the second quarter valued at about $11,524,000. Finally, Highbridge Capital Management LLC acquired a new stake in TIM Participacoes SA during the second quarter valued at about $709,000. Hedge funds and other institutional investors own 20.23% of the company’s stock.
TIM Participacoes SA Company Profile
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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