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Tim SA price target raised to $23.60 from $19.10 at Scotiabank

Scotiabank raised the firm’s price target on Tim SA (TIMB) to $23.60 from $19.10 and keeps an Outperform 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 over Telefonica Brasil (VIV)

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