JPMorgan Chase & Co. Forecasts Strong Price Appreciation for TIM (NYSE:TIMB) Stock

Key Points

• JPMorgan Chase & Co. raised its target price for TIM stock from $22.00 to $24.50, indicating an upside potential of 18.76% from the current price.
• Several analysts have recently updated their ratings on TIM, with opinions ranging from "neutral" to "strong buy," resulting in an average rating of "Moderate Buy" with a consensus price target of $21.25.
• TIM shares experienced a 1.6% increase in trading, reaching $20.63, with the stock's trading volume lower than its average volume, highlighting a notable market activity.

TIM (NYSE:TIMB - Get Free Report) had its target price boosted by analysts at JPMorgan Chase & Co. from $22.00 to $24.50 in a report issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 20.56% from the company's current price.

Other research analysts have also recently issued research reports about the stock. The Goldman Sachs Group boosted their price objective on shares of TIM from $15.30 to $16.90 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Scotiabank upped their target price on shares of TIM from $19.10 to $23.60 and gave the company a "sector outperform" rating in a research report on Thursday, July 31st. Hsbc Global Res cut shares of TIM from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 12th. HSBC cut shares of TIM to a "hold" rating in a research report on Friday, June 13th. Finally, Wall Street Zen upgraded shares of TIM from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $21.25.

TIM Trading Down 0.9%

TIMB stock traded down $0.18 during trading on Friday, hitting $20.32. The company had a trading volume of 469,337 shares, compared to its average volume of 505,395. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average price of $19.06 and a 200-day moving average price of $16.69. TIM has a 12 month low of $11.32 and a 12 month high of $21.03. The stock has a market cap of $9.84 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 0.84 and a beta of 0.60.

TIM (NYSE:TIMB - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.04. TIM had a net margin of 13.91% and a return on equity of 13.99%. The firm had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $6.62 billion. As a group, analysts predict that TIM will post 1.34 earnings per share for the current year.

Hedge Funds Weigh In On TIM

Several institutional investors and hedge funds have recently made changes to their positions in TIMB. Hantz Financial Services Inc. boosted its stake in TIM by 303.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 2,064 shares of the company's stock worth $42,000 after purchasing an additional 1,552 shares during the period. GAMMA Investing LLC boosted its stake in TIM by 119.3% in the 1st quarter. GAMMA Investing LLC now owns 3,028 shares of the company's stock worth $47,000 after purchasing an additional 1,647 shares during the period. Brooklyn Investment Group acquired a new position in TIM in the 1st quarter worth $50,000. Farther Finance Advisors LLC boosted its stake in TIM by 30,036.4% in the 1st quarter. Farther Finance Advisors LLC now owns 3,315 shares of the company's stock worth $53,000 after purchasing an additional 3,304 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in TIM in the 4th quarter worth $54,000.

TIM Company Profile

TIM SA, a telecommunications company, provides mobile voice, data, and broadband services in Brazil. The company offers in mobile, landline, long-distance, and data transmission services. It also offers fixed ultra-broadband, fixed ultraband broadband, and digital content services. The company serves individuals and corporates, as well as small, medium, and large companies.