Market Overview

UPDATE: Morgan Stanley Reiterates On Telefonica Brasil SA Despite Trimmed Estimates

Share:

In a report published Friday, Morgan Stanley analyst Michel Morin reiterated an Overweight rating on Telefonica Brasil SA (NYSE: VIV), and raised the price target from $22.00 to $23.00.

In the report, Morgan Stanley noted, “We are raising our DCF-based target to $23/ADR from $22 due to FX, as we trim the target on local shares to R$51 from R$52. Results were light in 1Q14, as the company continues to spend for growth, in our view. We continue to find the risk-reward compelling and reiterate our OW.”

Telefonica Brasil SA closed on Thursday at $21.08.

Latest Ratings for VIV

DateFirmActionFromTo
Jul 2020ScotiaBankMaintainsSector Outperform
May 2020BarclaysMaintainsEqual-Weight
Apr 2020Goldman SachsUpgradesNeutralBuy

View More Analyst Ratings for VIV
View the Latest Analyst Ratings

 

Related Articles (VIV)

View Comments and Join the Discussion!

Posted-In: Michel Morin Morgan StanleyAnalyst Color Price Target Analyst Ratings

Latest Ratings

StockFirmActionPT
RCLBarclaysUpgrades
TRGPMorgan StanleyUpgrades
PAGPMorgan StanleyUpgrades
PAAMorgan StanleyUpgrades
MIKWells FargoMaintains9.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com