TIM (NYSE:TIMB) Stock Gets Price Target Trim from Barclays

Key Points

• Barclays cut TIM’s price target from $24.00 to $22.00 while maintaining an “equal weight” rating, implying roughly 23.7% upside from the prior close.
• Analyst sentiment remains cautious: TIM has a consensus “Hold” rating from MarketBeat, with a consensus price target of $24.48.
• TIM shares rose 0.6% to $17.78, while the stock remains below its 50-day and 200-day moving averages and has traded between $15.94 and $28.22 over the past year.

TIM (NYSE:TIMB - Get Free Report) had its target price dropped by Barclays from $24.00 to $22.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's target price suggests a potential upside of 23.72% from the company's previous close.

Several other equities research analysts also recently issued reports on the stock. Weiss Ratings downgraded shares of TIM from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, October 23rd. Bank of America raised shares of TIM from an "underperform" rating to a "neutral" rating in a research report on Tuesday, October 13th. Morgan Stanley reaffirmed a "market perform" rating and issued a $22.00 target price on shares of TIM in a research note on Thursday, August 20th. Finally, Wall Street Zen cut TIM from a "buy" rating to a "hold" rating in a report on Saturday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, TIM has a consensus rating of "Hold" and a consensus price target of $24.48.

TIM Stock Up 0.6%

Shares of TIMB traded up $0.10 on Monday, hitting $17.78. The company's stock had a trading volume of 353,501 shares, compared to its average volume of 493,194. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.55. The firm's fifty day moving average price is $18.42 and its 200-day moving average price is $22.09. TIM has a fifty-two week low of $15.94 and a fifty-two week high of $28.22. The firm has a market capitalization of $8.51 billion, a price-to-earnings ratio of 10.52, a P/E/G ratio of 1.61 and a beta of 0.39.

Institutional Investors Weigh In On TIM

A number of institutional investors and hedge funds have recently made changes to their positions in TIMB. Ameritas Advisory Services LLC bought a new position in shares of TIM in the second quarter valued at $25,000. Eastern Bank acquired a new stake in TIM in the second quarter valued at $34,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in TIM in the third quarter valued at $43,000. Integrated Wealth Concepts LLC bought a new position in shares of TIM in the 2nd quarter valued at about $56,000. Finally, Inspire Investing LLC increased its stake in shares of TIM by 10.1% during the 1st quarter. Inspire Investing LLC now owns 4,191 shares of the company's stock worth $111,000 after purchasing an additional 386 shares during the last quarter.

About TIM

TIM SA is a Brazilian telecommunications company that provides mobile and fixed-line communications services to consumers, businesses and public-sector customers. Its offerings include voice and data plans, mobile internet, broadband connectivity and related digital services.

The company operates a nationwide wireless network, including 4G and 5G services, and provides connectivity solutions for corporate and institutional customers. Its business portfolio also includes Internet of Things applications, managed connectivity and other digital and technology services.

TIM traces its Brazilian operations to the late 1990s and has developed into one of the country's major mobile operators.

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