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

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

Separately, Barclays dropped 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 %

NYSE TIMB traded down $0.27 on Tuesday, hitting $14.09. 856,163 shares of the company were exchanged, compared to its average volume of 474,264. The firm has a 50 day moving average of $15.99 and a two-hundred day moving average of $15.79. The company has a quick ratio of 0.85, a current ratio of 0.88 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.

Institutional Trading of TIM

A number of large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its stake in TIM by 108.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,606 shares of the company’s stock worth $25,000 after purchasing an additional 835 shares in the last quarter. QRG Capital Management Inc. boosted its position in TIM by 7.9% during the 3rd quarter. QRG Capital Management Inc. now owns 14,881 shares of the company’s stock worth $256,000 after acquiring an additional 1,085 shares during the last quarter. CWM LLC boosted its position in TIM by 105.7% during the 2nd quarter. CWM LLC now owns 2,471 shares of the company’s stock worth $35,000 after acquiring an additional 1,270 shares during the last quarter. XTX Topco Ltd boosted its position in TIM by 26.1% during the 2nd quarter. XTX Topco Ltd now owns 13,264 shares of the company’s stock worth $190,000 after acquiring an additional 2,746 shares during the last quarter. Finally, SageView Advisory Group LLC acquired a new position in TIM during the 1st quarter worth approximately $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.