Telefonica Brasil (NYSE:VIV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday. The firm currently has a $17.00 price objective on the Wireless communications provider’s stock. Zacks Investment Research‘s price target indicates a potential upside of 8.14% from the company’s previous close.

According to Zacks, “Telefonica Brasil continues to rule the Brazilian wireless market following the establishment of Vivo as a commercial brand for all services. The company continues to invest in technology upgrades and broadband network infrastructure expansion to retain itself in the competitive industry. Moreover, the company is also optimistic about its long-term opportunities in the mobile business. In the last six months, the stock price grew 8.6% compared with the industry's loss of 0.9%. However, Telefonica Brasil continues to suffer from the impact of wireless substitution, intense competition in fixed line voice business and stringent regulatory measures. Telefonica Brasil's wireline business will suffer in future due to significant amount of line disconnections. Broadband competition will also continue to grow.”

A number of other research firms have also recently issued reports on VIV. Barclays lifted their target price on Telefonica Brasil from $17.00 to $17.50 and gave the company an “overweight” rating in a research report on Thursday, October 26th. Santander cut Telefonica Brasil from a “buy” rating to a “hold” rating in a research report on Thursday, December 21st. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $15.60 target price on shares of Telefonica Brasil in a research report on Thursday, November 2nd. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Telefonica Brasil has an average rating of “Buy” and an average price target of $16.28.

Telefonica Brasil (VIV) traded up $0.38 during mid-day trading on Friday, reaching $15.72. The company had a trading volume of 1,010,000 shares, compared to its average volume of 1,007,199. Telefonica Brasil has a fifty-two week low of $13.06 and a fifty-two week high of $16.85. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.94 and a current ratio of 0.96. The firm has a market capitalization of $25,904.57, a P/E ratio of 19.65, a PEG ratio of 1.13 and a beta of 1.36.

Institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its position in Telefonica Brasil by 178.1% in the second quarter. PNC Financial Services Group Inc. now owns 7,641 shares of the Wireless communications provider’s stock valued at $103,000 after acquiring an additional 4,893 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Telefonica Brasil during the third quarter worth about $165,000. River Road Asset Management LLC bought a new stake in shares of Telefonica Brasil during the third quarter worth about $173,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Telefonica Brasil during the third quarter worth about $181,000. Finally, Bayesian Capital Management LP bought a new stake in shares of Telefonica Brasil during the second quarter worth about $201,000. Hedge funds and other institutional investors own 9.33% of the company’s stock.

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Telefonica Brasil Company Profile

Telefonica Brasil SA is a mobile telecommunications company in Brazil offering postpaid mobile services. The Company also operates as a fixed telecommunications company in the state of Sao Paulo. The Company markets its mobile services under its Vivo brand. It offers its clients a portfolio of products, including mobile and fixed voice, mobile data, fixed broadband, ultra-fast broadband, Pay television, information technology and digital services.

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