Telefonica Brasil (NYSE:VIV) Price Target Raised to $12.60 at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group raised its price target for Telefonica Brasil from $11.40 to $12.60, indicating a potential upside of 2.65% from its previous close.
• Recent analyst ratings show mixed opinions on the stock, with two analysts giving a "buy" rating, while others rated it as "hold" or "underweight."
• Telefonica Brasil's stock is currently trading at approximately $12.27 after a 1.7% decline, despite analyst predictions suggesting an EPS of 0.6 for the current year.

Telefonica Brasil (NYSE:VIV - Free Report) had its target price lifted by The Goldman Sachs Group from $11.40 to $12.60 in a report published on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the Wireless communications provider's stock.

VIV has been the subject of a number of other research reports. Wall Street Zen downgraded Telefonica Brasil from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Barclays reiterated an "overweight" rating and set a $13.00 price target (up previously from $12.50) on shares of Telefonica Brasil in a research report on Thursday, August 7th. Scotiabank boosted their target price on Telefonica Brasil from $8.80 to $12.50 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. Finally, JPMorgan Chase & Co. restated an "underweight" rating on shares of Telefonica Brasil in a research report on Friday, August 8th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Telefonica Brasil currently has an average rating of "Hold" and an average price target of $12.70.

Telefonica Brasil Price Performance

Shares of VIV traded up $0.2050 during trading hours on Tuesday, reaching $12.6450. 1,045,066 shares of the company's stock traded hands, compared to its average volume of 971,982. The stock has a market cap of $20.57 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 0.86 and a beta of 0.71. The company has a current ratio of 0.98, a quick ratio of 0.95 and a debt-to-equity ratio of 0.20. The firm's 50 day simple moving average is $11.50 and its 200-day simple moving average is $13.12. Telefonica Brasil has a 12 month low of $7.47 and a 12 month high of $12.66.

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

Institutional Trading of Telefonica Brasil

Several hedge funds and other institutional investors have recently bought and sold shares of VIV. Arrowstreet Capital Limited Partnership lifted its position in Telefonica Brasil by 54.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 5,754,523 shares of the Wireless communications provider's stock valued at $65,602,000 after purchasing an additional 2,036,349 shares during the last quarter. Strs Ohio bought a new stake in Telefonica Brasil in the first quarter valued at approximately $7,147,000. Millennium Management LLC lifted its position in Telefonica Brasil by 283.2% in the fourth quarter. Millennium Management LLC now owns 592,234 shares of the Wireless communications provider's stock valued at $4,471,000 after purchasing an additional 437,678 shares during the last quarter. Ramirez Asset Management Inc. bought a new stake in Telefonica Brasil in the second quarter valued at approximately $4,866,000. Finally, Robeco Institutional Asset Management B.V. lifted 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 valued at $136,151,000 after purchasing an additional 420,973 shares during the last quarter. Institutional investors 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.