Scotiabank analyst Andres Coello lowered the firm’s price target on Telefonica Brasil (VIV) to $9.20 from $10.40 and keeps a Sector Perform rating on the shares. The firm prefers Tim SA (TIMB) over Telefonica Brasil, the analyst tells investors. Additionally, Vivo may become a slow-growth story if, once the company shuts down the copper network, the fiber to the home division decelerates further, the firm adds.
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