Vitor Tomita, an analyst from Goldman Sachs, maintained the Hold rating on TIM. The associated price target is $22.00.
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Vitor Tomita has given his Hold rating due to a combination of factors influencing TIM’s current market position. The competitive landscape remains favorable on a national scale, despite some localized promotions, which TIM is addressing with its own strategic initiatives like Black Friday promotions. Additionally, the company’s broadband strategy is stable, with improving volume trends, and the B2B sector is expected to grow, potentially through acquisitions.
While the postpaid segment is experiencing a slight deceleration, it is considered a normal adjustment following previous price increases. The prepaid segment is showing early signs of stabilization, aided by targeted offerings. Despite aggressive moves by new market entrants, TIM’s pricing environment remains largely unaffected, and the company has the capacity to respond if necessary. These factors collectively suggest a balanced outlook, justifying the Hold rating.
In another report released yesterday, Scotiabank also downgraded the stock to a Hold with a $23.60 price target.