Tim SA price target lowered to $23.20 from $24.80 at Scotiabank

Scotiabank analyst Andres Coello lowered the firm’s price target on Tim SA (TIMB) to $23.20 from $24.80 and keeps an Outperform rating on the shares. The firm notes Tim SA’s Q3 results are unlikely to be matched by any other company under the firm’s LatAm telecom coverage, the analyst tells investors.