Telefonica Brasil price target raised to $13 from $12 at Barclays

Barclays raised the firm’s price target on Telefonica Brasil to $13 from $12 and keeps an Equal Weight rating on the shares. 2023 showed a clear difference between “good” and “bad” market structures in European telecom, evident in how effectively price increases led to service revenue growth, the analyst tells investors in a research note. The firm expects similar for 2024 and remains “biased to quality.”