Standpoint Research Starts TIM Participacoes (TSU) at Buy

Standpoint Research initiates coverage on TIM Participacoes (NYSE: TSU) with a Buy. PT $31.00.

Standpoint analyst, Ronnie Moas, said, "TIM Participacoes (TSU) is a name we have been watching from the sidelines recently. TSU, formerly known as Tele Celular, provides mobile telecommunications services through global system mobile technology to business and individual customers in Brazil."

"TSU ranked # 9 out of 180 names in our recent ADR report (according to our 155-variable computer model) and passes fundamental and subjective overlays. We have an excellent track record with Brazilian names going back to 2003 (and I have visited there six times since 2004). We are adding this name to our list of 77 open recommendations that already includes three Brazilian names -- Saneamento (NYSE: SBS), Energetica Minas Gerais (NYSE: CIG) and Petrobras (NYSE: PBR)."

For an analyst ratings summary and ratings history on TIM Participacoes click here. For more ratings news on TIM Participacoes click here.

Shares of TIM Participacoes closed at $24.30 yesterday.

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