Barclays Raises Telefonica Brasil (VIV) Price Target to $15.00

Telefonica Brasil (NYSE:VIV) had its price objective increased by Barclays from $14.00 to $15.00 in a research report report published on Thursday morning. The brokerage currently has a buy rating on the Wireless communications provider’s stock.

VIV has been the topic of several other research reports. ValuEngine raised shares of Telefonica Brasil from a strong sell rating to a sell rating in a research note on Wednesday. JPMorgan Chase & Co. downgraded shares of Telefonica Brasil from a neutral rating to an underweight rating in a research note on Monday, July 30th. Royal Bank of Canada reissued a hold rating and issued a $12.50 target price on shares of Telefonica Brasil in a research note on Tuesday, July 31st. Finally, Scotiabank set a $14.00 price target on shares of Telefonica Brasil and gave the stock a buy rating in a research note on Tuesday, July 31st. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Telefonica Brasil presently has an average rating of Hold and an average target price of $15.70.

Shares of VIV remained flat at $$12.14 during midday trading on Thursday. 2,049,998 shares of the stock traded hands, compared to its average volume of 2,969,305. Telefonica Brasil has a 1-year low of $9.21 and a 1-year high of $17.33. The stock has a market capitalization of $20.50 billion, a P/E ratio of 12.26, a P/E/G ratio of 1.74 and a beta of 0.81. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.07.

A number of hedge funds have recently bought and sold shares of VIV. Artisan Partners Limited Partnership increased its stake in Telefonica Brasil by 16.7% in the 2nd quarter. Artisan Partners Limited Partnership now owns 92,417,978 shares of the Wireless communications provider’s stock worth $1,097,001,000 after buying an additional 13,247,352 shares during the period. Acadian Asset Management LLC increased its stake in Telefonica Brasil by 623.9% in the 3rd quarter. Acadian Asset Management LLC now owns 1,583,320 shares of the Wireless communications provider’s stock worth $15,406,000 after buying an additional 1,364,595 shares during the period. Advisors Capital Management LLC purchased a new position in Telefonica Brasil in the 2nd quarter worth about $9,162,000. Pzena Investment Management LLC increased its stake in Telefonica Brasil by 14.0% in the 2nd quarter. Pzena Investment Management LLC now owns 5,498,838 shares of the Wireless communications provider’s stock worth $65,271,000 after buying an additional 674,584 shares during the period. Finally, Millennium Management LLC increased its stake in Telefonica Brasil by 103.8% in the 2nd quarter. Millennium Management LLC now owns 907,124 shares of the Wireless communications provider’s stock worth $10,768,000 after buying an additional 462,009 shares during the period. 10.01% of the stock is currently owned by institutional investors.

About Telefonica Brasil

Telefônica Brasil SA provides mobile and fixed line telecommunications services to residential and corporate customers 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 and 4G, as well as mobile value-added services and wireless roaming services.

See Also: Book Value Per Share – BVPS

Analyst Recommendations for Telefonica Brasil (NYSE:VIV)

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