Standpoint Research Downgrades Telesp (TSP) to Hold; Reducing Expsoure For Now
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Price: $0.25 --0%
Rating Summary:
6 Buy, 9 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 20 | New: 25
Rating Summary:
6 Buy, 9 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 20 | New: 25
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Standpoint Research downgraded Telesp (NYSE: TSP) from Buy to Hold.
Standpoint analyst, Ronnie Moas, said, "When the South American markets corrected recently, we got aggressive. In fact we added more names from South America in Q1 (5) than we did in all of 2010 (3). We got a nice bounce the last few weeks and want to reduce our exposure there. We downgraded Bancolombia CIB on Friday, and today we are downgrading Telecom Sao Paulo today (even though it was upgraded at major research firm this morning). TSP has jumped 18% since our January recommendation and beat the S&P-500 by 1400 bps. The shares are now within 10% of the $30 price target we had set for 2012-2013."
For more ratings news on Telesp click here and for the rating history of Telesp click here.
Shares of Telesp closed at $26.13 yesterday.
Standpoint analyst, Ronnie Moas, said, "When the South American markets corrected recently, we got aggressive. In fact we added more names from South America in Q1 (5) than we did in all of 2010 (3). We got a nice bounce the last few weeks and want to reduce our exposure there. We downgraded Bancolombia CIB on Friday, and today we are downgrading Telecom Sao Paulo today (even though it was upgraded at major research firm this morning). TSP has jumped 18% since our January recommendation and beat the S&P-500 by 1400 bps. The shares are now within 10% of the $30 price target we had set for 2012-2013."
For more ratings news on Telesp click here and for the rating history of Telesp click here.
Shares of Telesp closed at $26.13 yesterday.
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