TIM (NYSE:TIMB) Price Target Raised to $24.50

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 price objective raised by equities researchers at JPMorgan Chase & Co. from $22.00 to $24.50 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 19.29% from the company's current price.

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

TIM Stock Down 2.1%

TIMB traded down $0.44 during trading on Friday, hitting $20.54. The stock had a trading volume of 236,997 shares, compared to its average volume of 503,793. The company has a market capitalization of $9.94 billion, a PE ratio of 15.91, a PEG ratio of 0.83 and a beta of 0.60. TIM has a twelve month low of $11.32 and a twelve month high of $21.03. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.88 and a current ratio of 0.91. The stock has a 50 day simple moving average of $19.00 and a two-hundred day simple moving average of $16.66.

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

Institutional Trading of TIM

Several institutional investors have recently modified their holdings of TIMB. LPL Financial LLC grew its position in shares of TIM by 164.1% in the fourth quarter. LPL Financial LLC now owns 26,792 shares of the company's stock valued at $315,000 after purchasing an additional 16,649 shares during the period. JPMorgan Chase & Co. grew its position in shares of TIM by 2.3% in the fourth quarter. JPMorgan Chase & Co. now owns 829,841 shares of the company's stock valued at $9,759,000 after purchasing an additional 18,970 shares during the period. Cerity Partners LLC acquired a new position in TIM during the fourth quarter worth about $330,000. Renaissance Technologies LLC boosted its position in TIM by 19.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,718,588 shares of the company's stock worth $20,211,000 after acquiring an additional 283,002 shares during the last quarter. Finally, Barclays PLC acquired a new position in TIM during the fourth quarter worth about $299,000.

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.