Shares of Telefonica Brasil S.A. American Depositary Shares (Each representing One) (NYSE:VIV) traded today at $11.01, eclipsing its 52-week high. This new high was reached on below average trading volume as 271,000 shares traded hands, while the average 30-day volume is approximately 1.3 million shares.
Telefonica Brasil, known as Vivo, is the largest wireless carrier in Brazil with nearly 85 million customers, equal to about 33% market share. The firm is strongest in the postpaid business, where it has 50 million customers, about 37% share of this market. It is the incumbent fixed-line telephone operator in Sao Paulo state and, following the acquisition of GVT, the owner of an extensive fiber network across the country. The firm provides Internet access to 6 million households on this network. Following its parent Telefonica’s footsteps, Vivo is cross-selling fixed-line and wireless services as a converged offering. The firm also sells pay-tv services to its fixed-line customers.
In the past 52 weeks, Telefonica Brasil S.A. American Depositary Shares (Each representing One) share prices are bracketed by a low of $7.62 and a high of $11.01 and is now at $10.97, 44% above that low price.
Telefonica Brasil S.A. American Depositary Shares (Each representing One) (NYSE:VIV) defies analysts with a current price ($10.97) 2.9% above its average consensus price target of $10.65.
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