TIM (NYSE:TIMB) Given New $23.20 Price Target at Scotiabank

TIM (NYSE:TIMB) had its price objective decreased by stock analysts at Scotiabank from $24.80 to $23.20 in a report issued on Tuesday, Benzinga reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s price target indicates a potential upside of 64.66% from the company’s previous close.

Separately, Barclays cut their price objective on TIM from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd.

TIM Stock Down 1.9 %

Shares of NYSE TIMB traded down $0.27 during trading hours on Tuesday, hitting $14.09. The company had a trading volume of 856,163 shares, compared to its average volume of 474,264. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.52. TIM has a 1-year low of $13.74 and a 1-year high of $19.14. The firm’s 50 day moving average is $15.99 and its 200-day moving average is $15.79.

Hedge Funds Weigh In On TIM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its position in TIM by 108.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,606 shares of the company’s stock worth $25,000 after purchasing an additional 835 shares during the period. QRG Capital Management Inc. boosted its position in TIM by 7.9% during the third quarter. QRG Capital Management Inc. now owns 14,881 shares of the company’s stock worth $256,000 after purchasing an additional 1,085 shares during the period. CWM LLC boosted its position in TIM by 105.7% during the second quarter. CWM LLC now owns 2,471 shares of the company’s stock worth $35,000 after purchasing an additional 1,270 shares during the period. XTX Topco Ltd boosted its position in TIM by 26.1% during the second quarter. XTX Topco Ltd now owns 13,264 shares of the company’s stock worth $190,000 after purchasing an additional 2,746 shares during the period. Finally, SageView Advisory Group LLC bought a new position in TIM during the first quarter worth $54,000.

TIM Company Profile

TIM SA, a telecommunications company, provides mobile voice, data, and broadband services in Brazil. The company offers in mobile, landline, long-distance, and data transmission services. It also offers fixed ultra-broadband, fixed ultraband broadband, and digital content services. The company serves individuals and corporates, as well as small, medium, and large companies.