Telefônica Brasil (NYSE:VIV – Get Free Report) had its target price lifted by equities research analysts at Scotiabank from $9.20 to $10.40 in a report issued on Friday, Benzinga reports. The brokerage currently has a “sector perform” rating on the Wireless communications provider’s stock. Scotiabank’s target price would suggest a potential upside of 4.00% from the company’s current price.
Several other brokerages also recently weighed in on VIV. StockNews.com downgraded shares of Telefônica Brasil from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 17th. Barclays boosted their price target on shares of Telefônica Brasil from $11.00 to $11.50 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, Morgan Stanley upgraded shares of Telefônica Brasil from an “equal weight” rating to an “overweight” rating in a report on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.98.
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Telefônica Brasil Price Performance
Telefônica Brasil (NYSE:VIV – Get Free Report) last announced its earnings results on Monday, July 29th. The Wireless communications provider reported $0.14 earnings per share for the quarter, hitting the consensus estimate of $0.14. Telefônica Brasil had a net margin of 9.65% and a return on equity of 7.53%. The firm had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the prior year, the firm earned $0.14 EPS. On average, research analysts forecast that Telefônica Brasil will post 0.61 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of VIV. Blue Trust Inc. boosted its holdings in shares of Telefônica Brasil by 2,821.8% in the 2nd quarter. Blue Trust Inc. now owns 3,214 shares of the Wireless communications provider’s stock valued at $26,000 after buying an additional 3,104 shares in the last quarter. QRG Capital Management Inc. acquired a new position in shares of Telefônica Brasil in the 2nd quarter valued at $83,000. Arkfeld Wealth Strategies L.L.C. acquired a new position in shares of Telefônica Brasil in the 2nd quarter valued at $85,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Telefônica Brasil in the 1st quarter valued at $123,000. Finally, Personal CFO Solutions LLC acquired a new position in shares of Telefônica Brasil in the 4th quarter valued at $136,000. Institutional investors and hedge funds own 5.16% of the company’s stock.
Telefônica Brasil Company Profile
Telefônica Brasil SA, together with its subsidiaries, operates as a mobile telecommunications company in Brazil. Its fixed line services portfolio includes local, domestic long-distance, and international long-distance calls; and mobile portfolio comprises voice and broadband internet access through 3G, 4G, 4.5G, and 5G, as well as mobile value-added and wireless roaming services.
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