The Goldman Sachs Group Increases Telefonica Brasil (NYSE:VIV) Price Target to $12.60

Telefonica Brasil (NYSE:VIV) had its price target raised by The Goldman Sachs Group from $11.40 to $12.60 in a report published on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the Wireless communications provider’s stock.

Several other research analysts have also commented on the stock. Wall Street Zen lowered shares of Telefonica Brasil from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. Barclays reissued an “overweight” rating and issued a $13.00 price objective (up previously from $12.50) on shares of Telefonica Brasil in a research report on Thursday, August 7th. Scotiabank upped their price target on shares of Telefonica Brasil from $8.80 to $12.50 and gave the stock a “sector perform” rating in a research report on Thursday, July 31st. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Telefonica Brasil in a report on Friday, August 8th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Telefonica Brasil presently has a consensus rating of “Hold” and a consensus price target of $12.70.

Telefonica Brasil Trading Down 1.7%

VIV stock opened at $12.2750 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 0.20. The company has a market cap of $19.97 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 0.85 and a beta of 0.71. The business has a fifty day simple moving average of $11.39 and a 200-day simple moving average of $13.23. Telefonica Brasil has a 52 week low of $7.47 and a 52 week high of $12.52.

Telefonica Brasil (NYSE:VIV) last announced its quarterly earnings results on Monday, July 28th. The Wireless communications provider reported $0.15 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.01). The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $14.48 billion. Telefonica Brasil had a return on equity of 8.32% and a net margin of 10.13%. On average, equities research analysts expect that Telefonica Brasil will post 0.6 EPS for the current year.

Hedge Funds Weigh In On Telefonica Brasil

Several large investors have recently modified their holdings of VIV. Robeco Institutional Asset Management B.V. increased its holdings in Telefonica Brasil by 2.8% in the first quarter. Robeco Institutional Asset Management B.V. now owns 15,613,608 shares of the Wireless communications provider’s stock valued at $136,151,000 after buying an additional 420,973 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Telefonica Brasil by 54.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,754,523 shares of the Wireless communications provider’s stock valued at $65,602,000 after acquiring an additional 2,036,349 shares during the last quarter. Brandes Investment Partners LP increased its holdings in shares of Telefonica Brasil by 3.5% in the 2nd quarter. Brandes Investment Partners LP now owns 3,480,597 shares of the Wireless communications provider’s stock valued at $39,679,000 after acquiring an additional 119,002 shares during the last quarter. Aberdeen Group plc raised its position in shares of Telefonica Brasil by 4.2% during the 1st quarter. Aberdeen Group plc now owns 2,844,839 shares of the Wireless communications provider’s stock valued at $24,807,000 after acquiring an additional 114,849 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Telefonica Brasil by 36.4% during the first quarter. Invesco Ltd. now owns 1,445,527 shares of the Wireless communications provider’s stock worth $12,605,000 after purchasing an additional 385,848 shares during the last quarter. Institutional investors own 5.16% of the company’s stock.

Telefonica Brasil Company Profile

Telefônica Brasil SA, together with its subsidiaries, operates as a mobile telecommunications company 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, 4G, 4.5G, and 5G, as well as mobile value-added and wireless roaming services.