Morgan Stanley Downgrades Telefonica Brasil SA (ADR) to Equal Weight

Brokerage firm Morgan Stanley Downgrades its rating on Telefonica Brasil SA (ADR)(NYSE:VIV). The shares have been rated Equal Weight. Previously, the analysts had a Overweight rating on the shares. The rating by Morgan Stanley was issued on Jul 6, 2016.

Telefonica Brasil SA (ADR) (VIV) made into the market gainers list on Mondays trading session with the shares advancing 1.21% or 0.17 points. Due to strong positive momentum, the stock ended at $14.18, which is also near the day’s high of $14.24. The stock began the session at $14.12 and the volume stood at 18,23,861 shares. The 52-week high of the shares is $14.24 and the 52 week low is $7.715. The company has a current market capitalization of $23,946 M and it has 1,68,86,94,000 shares in outstanding.

Telefonica Brasil SA (ADR)(VIV) last announced its earnings results on Apr 27, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $3.02B. Analysts had an estimated revenue of $2.57B. Earnings per share were $0.48. Analysts had estimated an EPS of $0.18.

Telefonica Brasil S.A. is a mobile telecommunications company in Brazil. The Company is a fixed telecommunications company in the state of Sao Paulo. The Company markets its mobile services under its Vivo brand. It offers its clients a portfolio of products including mobile and fixed voice mobile data fixed broadband ultra-fast broadband (UBB) (based on its Fiber to the Home infrastructure (FTTH)) Pay TV information technology and digital services (such as e-health cloud and financial services). It also has a distribution network with more than 300 of its own stores and approximately 1800 physical distribution points of sale where its clients can obtain certain services such as purchasing credit for prepaid phones. Its operations consist of local and long distance fixed telephone services; mobile services including value-added services; data services including broadband services and mobile data services and Pay TV services through direct to home (DTH) among others.

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