Bank of America Upgrades TIM Participacoes SA (ADR) to Buy

Brokerage firm Bank of America Upgrades its rating on TIM Participacoes SA (ADR)(NYSE:TSU). The shares have been rated Buy. Previously, the analysts had a Neutral rating on the shares. The rating by Bank of America was issued on Jul 26, 2016.

TIM Participacoes SA (ADR) (TSU) made into the market gainers list on Fridays trading session with the shares advancing 1.50% or 0.19 points. Due to strong positive momentum, the stock ended at $12.89, which is also near the day’s high of $13.01. The stock began the session at $12.85 and the volume stood at 14,06,887 shares. The 52-week high of the shares is $13.86 and the 52 week low is $7.08. The company has a current market capitalization of $6,239 M and it has 48,40,47,320 shares in outstanding.

TIM Participacoes SA (ADR)(TSU) last announced its earnings results on Jul 25, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.15B. Analysts had an estimated revenue of $1.09B. Earnings per share were $0.03. Analysts had estimated an EPS of $0.09.

TIM Participacoes S.A. is a holding company. The Company provides mobile telecommunication services in Brazil. The Company through its subsidiaries in various telecommunications markets operates mobile fixed and long distance telephony data transmission and ultra-broadband services. The Company’s wholly owned subsidiaries include TIM Celular S.A. which provides landline telephone services (STFC) – domestic long distance and international long distance voice services personal mobile service (SMP) and multimedia communication service (SCM) in all Brazilian states and in the Federal District and Intelig Telecomunicacoes Ltda. which provides STFC – local voices services and SCM services in all Brazilian states and in the Federal District (DF). The Company offers global system for mobile communications (GSM) telecommunications services 3G and 4G technologies.

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