Upgrade Alert for Tim Participacoes (TSU)
Tim Participacoes (NYSE:TSU) was upgraded from Neutral to Buy at BofA/Merrill today. The stock closed yesterday at $12.58 on volume of 2.1 million shares, above average daily volume of 1.2 million.
Over the past year, Tim Participacoes has traded in a range of $7.08 to $17.49 and closed yesterday at $12.58, 78% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has advanced 1.9%.
Tim Participacoes has overhead space with shares priced $12.58, or 5.4% below the average consensus analyst price target of $13.30. The stock should discover initial support at its 50-day moving average (MA) of $10.49 and subsequent support at its 200-day MA of $10.22.
Tim Participacoes S.A. provides mobile telecommunications services, cellular phone data transmission and mobile internet services through its mobile operators throughout Brazil.
SmarTrend recommended that subscribers consider buying shares of Tim Participacoes on July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $10.93. Since that recommendation, shares of Tim Participacoes have risen 9.2%. We continue to monitor TSU for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades tim participacoes