Telefonica Brasil (NYSE:VIV) Upgraded by Weiss Ratings to Buy (B-) Rating

Key Points

• Weiss Ratings has upgraded Telefonica Brasil from a "hold (C+)" rating to a "buy (B-)" rating, signaling improved confidence in the stock's performance.
• Currently, the stock has a consensus rating of "Hold" with an average target price of $12.53, as analysts have mixed views on its future performance.
• Institutional investors have shown increased interest, with significant stakes being raised by several hedge funds during the second quarter.

Telefonica Brasil (NYSE:VIV - Get Free Report) was upgraded by investment analysts at Weiss Ratings from a "hold (c+)" rating to a "buy (b-)" rating in a research note issued on Wednesday,Weiss Ratings reports.

Several other research analysts also recently weighed in on VIV. Barclays restated an "overweight" rating and set a $13.00 target price (up from $12.50) on shares of Telefonica Brasil in a research note on Thursday, August 7th. JPMorgan Chase & Co. restated an "underweight" rating on shares of Telefonica Brasil in a research note on Friday, August 8th. The Goldman Sachs Group boosted their target price on Telefonica Brasil from $11.40 to $12.60 and gave the stock a "buy" rating in a research note on Tuesday, August 19th. Citigroup initiated coverage on Telefonica Brasil in a research note on Wednesday, September 10th. They set a "neutral" rating on the stock. Finally, Wall Street Zen upgraded Telefonica Brasil from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $12.53.

Telefonica Brasil Stock Performance

VIV traded up $0.08 during midday trading on Wednesday, reaching $12.09. The company had a trading volume of 714,543 shares, compared to its average volume of 1,211,155. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 0.20. Telefonica Brasil has a 1 year low of $7.47 and a 1 year high of $12.92. The business has a 50-day moving average of $12.33 and a two-hundred day moving average of $11.99. The company has a market cap of $19.66 billion, a P/E ratio of 19.51, a P/E/G ratio of 0.86 and a beta of 0.78.

Telefonica Brasil (NYSE:VIV - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The Wireless communications provider reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.01). The firm had revenue of $2.62 billion for the quarter, compared to analysts' expectations of $14.48 billion. Telefonica Brasil had a net margin of 10.13% and a return on equity of 8.32%. As a group, equities research analysts predict that Telefonica Brasil will post 0.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Telefonica Brasil

Several institutional investors and hedge funds have recently bought and sold shares of the business. Corient Private Wealth LLC raised its stake in Telefonica Brasil by 100.9% during the second quarter. Corient Private Wealth LLC now owns 42,984 shares of the Wireless communications provider's stock worth $490,000 after acquiring an additional 21,584 shares during the period. Vident Advisory LLC grew its position in Telefonica Brasil by 36.1% in the 2nd quarter. Vident Advisory LLC now owns 46,299 shares of the Wireless communications provider's stock worth $528,000 after purchasing an additional 12,276 shares during the last quarter. Two Sigma Securities LLC bought a new position in Telefonica Brasil in the 2nd quarter worth about $665,000. Tidal Investments LLC bought a new position in Telefonica Brasil in the 2nd quarter worth about $624,000. Finally, Engineers Gate Manager LP boosted its holdings in shares of Telefonica Brasil by 63.3% in the second quarter. Engineers Gate Manager LP now owns 65,468 shares of the Wireless communications provider's stock valued at $746,000 after acquiring an additional 25,377 shares in the last quarter. Institutional investors and hedge funds own 5.16% of the company's stock.

About Telefonica Brasil

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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