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Telefonica Brasil price target raised to $12.50 from $8.80 at Scotiabank

Scotiabank analyst Andres Coello raised the firm’s price target on Telefonica Brasil (VIV) to $12.50 from $8.80 and keeps a Sector Perform rating on the shares. The Brazilian telecom industry delivered solid results along with strong cash-flow generation, the analyst tells investors. Scotiabank notes it prefers Tim SA (TIMB) over Telefonica Brasil

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