Telefonica Brasil shares are trading lower after Barclays maintained an Equal-Weight rating on the stock and lowered its price target from $13 to $12.
Portfolio Pulse from Benzinga Newsdesk
Telefonica Brasil's shares (VIV) are trading lower following Barclays' decision to maintain an Equal-Weight rating while reducing the price target from $13 to $12.
May 09, 2024 | 5:51 pm
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Barclays maintained an Equal-Weight rating on Telefonica Brasil and lowered its price target from $13 to $12, leading to a decrease in the stock's trading price.
The reduction in the price target by Barclays, a significant financial institution, can lead to negative investor sentiment towards Telefonica Brasil (VIV), causing a short-term decrease in its stock price. The maintenance of an Equal-Weight rating indicates that Barclays does not see significant upside or downside potential, which, combined with the lowered price target, could dampen investor enthusiasm.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100