Morgan Stanley downgraded Telefonica Brasil (VIV) to Equal Weight from Overweight with a price target of $12, up from $11. While the firm thinks Telefonica has an advantage in Brazil, it is taking profits after a strong year-to-date rally and downgrading the stock, the analyst tells investors.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VIV:
- Telefonica Brasil Approves Strategic Share Transfer to Vivo Ventures
- Telefônica Brasil Completes Reorganization and Announces Vivae-Ada Merger
- Telefônica Brasil Adjusts Interest on Capital Amid Share Buyback
- Telefônica Brasil Approves R$400 Million Interest on Capital
- Telefônica Brasil Declares R$400 Million Interest on Capital