Telefonica Brasil (NYSE:VIV) Given New $12.50 Price Target at Scotiabank

Key Points

• Scotiabank has raised its price target for Telefonica Brasil from $8.80 to $12.50, suggesting an 11.26% potential upside from the stock's previous close.
• The stock currently has a consensus rating of "Hold" with three analysts recommending a hold and two a buy, reflecting mixed sentiment among analysts.
• Telefonica Brasil recently reported $0.15 EPS for the quarter, missing expectations, with revenue of $2.62 billion, significantly lower than the consensus estimate of $14.48 billion.

Telefonica Brasil (NYSE:VIV - Get Free Report) had its price target hoisted by stock analysts at Scotiabank from $8.80 to $12.50 in a report released on Thursday,Benzinga reports. The firm presently has a "sector perform" rating on the Wireless communications provider's stock. Scotiabank's target price indicates a potential upside of 11.26% from the company's previous close.

VIV has been the topic of several other reports. Wall Street Zen downgraded Telefonica Brasil from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. The Goldman Sachs Group lifted their price objective on Telefonica Brasil from $9.20 to $10.30 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Finally, Barclays increased their target price on shares of Telefonica Brasil from $11.50 to $12.50 and gave the company an "overweight" rating in a research report on Monday, July 14th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Telefonica Brasil presently has an average rating of "Hold" and a consensus price target of $11.77.

Telefonica Brasil Price Performance

Shares of Telefonica Brasil stock traded up $0.03 on Thursday, reaching $11.24. 357,872 shares of the stock were exchanged, compared to its average volume of 1,355,476. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 0.96. The firm has a market cap of $18.57 billion, a PE ratio of 18.12, a P/E/G ratio of 0.73 and a beta of 0.75. The firm's 50 day moving average is $10.85 and its 200-day moving average is $13.71. Telefonica Brasil has a one year low of $7.47 and a one year high of $11.96.

Telefonica Brasil (NYSE:VIV - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The Wireless communications provider reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.01). Telefonica Brasil had a net margin of 10.13% and a return on equity of 8.26%. The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $14.48 billion. As a group, analysts anticipate that Telefonica Brasil will post 0.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Telefonica Brasil

Large investors have recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. grew its position in Telefonica Brasil by 2.8% in the first quarter. Robeco Institutional Asset Management B.V. now owns 15,613,608 shares of the Wireless communications provider's stock worth $136,151,000 after acquiring an additional 420,973 shares in the last quarter. Aberdeen Group plc boosted its stake in Telefonica Brasil by 4.2% in the first quarter. Aberdeen Group plc now owns 2,844,839 shares of the Wireless communications provider's stock worth $24,807,000 after buying an additional 114,849 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Telefonica Brasil by 4.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,571,650 shares of the Wireless communications provider's stock valued at $19,416,000 after acquiring an additional 114,266 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Telefonica Brasil by 3.9% during the fourth quarter. Renaissance Technologies LLC now owns 2,078,200 shares of the Wireless communications provider's stock worth $15,690,000 after acquiring an additional 78,200 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Telefonica Brasil by 36.4% during the first quarter. Invesco Ltd. now owns 1,445,527 shares of the Wireless communications provider's stock worth $12,605,000 after acquiring an additional 385,848 shares in the last quarter. 5.16% of the stock is owned by institutional investors.

Telefonica 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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