TIM Participacoes (NYSE:TSU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The firm currently has a $22.00 price objective on the Wireless communications provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 10.22% from the stock’s previous close.
According to Zacks, “TIM PARTICIPAÇÕES S.A. is a holding company, the single company in Brazil to offer mobile cellular service throughout the Brazilian territory, by means of its subsidiaries TIM Celular S.A. and TIM Nordeste S.A. The company is the largest GSM (Global System for Mobile communications) operator of the country, in terms of clients and revenues and TIM Participações ended the 3Q08 with 35.2 million clients and a market share of 25%. “
A number of other equities analysts have also recently commented on the stock. Royal Bank of Canada set a $17.00 target price on shares of TIM Participacoes and gave the stock a “hold” rating in a research report on Thursday, November 30th. UBS Group upgraded shares of TIM Participacoes from a “market perform” rating to an “outperform” rating in a research report on Friday, November 24th. Barclays lifted their target price on shares of TIM Participacoes from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, November 9th. Finally, Santander upgraded shares of TIM Participacoes from a “hold” rating to a “buy” rating in a research report on Thursday, December 21st. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $20.00.
TIM Participacoes (TSU) opened at $19.96 on Friday. The company has a market cap of $9,664.75, a price-to-earnings ratio of 31.68, a P/E/G ratio of 0.95 and a beta of 1.49. TIM Participacoes has a 52-week low of $12.93 and a 52-week high of $20.48. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.31 and a quick ratio of 1.29.
A number of large investors have recently modified their holdings of TSU. Picton Mahoney Asset Management purchased a new position in shares of TIM Participacoes in the second quarter valued at about $120,000. Asset Management One Co. Ltd. increased its position in shares of TIM Participacoes by 75.0% in the third quarter. Asset Management One Co. Ltd. now owns 7,000 shares of the Wireless communications provider’s stock valued at $128,000 after acquiring an additional 3,000 shares during the period. CIBC World Markets Inc. increased its position in shares of TIM Participacoes by 1.9% in the second quarter. CIBC World Markets Inc. now owns 12,886 shares of the Wireless communications provider’s stock valued at $191,000 after acquiring an additional 236 shares during the period. Janney Montgomery Scott LLC purchased a new position in shares of TIM Participacoes in the third quarter valued at about $202,000. Finally, Trexquant Investment LP purchased a new position in shares of TIM Participacoes in the third quarter valued at about $261,000. Institutional investors own 15.48% of the company’s stock.
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About TIM Participacoes
TIM Participacoes SA (TIM) is a provider of mobile telecommunication services in Brazil. The Company, through its subsidiaries in various telecommunications markets, operates mobile, fixed and long distance telephony, data transmission and ultra-broadband services. Its direct subsidiaries include TIM Celular SA, which provides landline telephone services (commuted fixed telephonic service (STFC))-domestic long distance and international long distance voice services, personal mobile service (SMP) and multimedia communication service (multimedia service of communication (SCM)) in all Brazilian states and in the Federal District, and Intelig Telecomunicacoes Ltda., which provides STFC-local voices services and SCM services in all Brazilian states and in the Federal District.
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