New Street Research - TIM SA (Brazil) (TIMS3) TIM Brasil (Buy, TP: BRL22, +39%) Q4 24: Solid quarter, positive MT guidance

Report

New Street Research

Chris Hoare

EUR 9653.00 For Business Accounts Only

TIM Brasil (Buy, TP: BRL22, +39%) Q4 24: Solid quarter, positive MT guidance

TIM has delivered a solid set of Q4 results, with a beat at EBITDAaL and solid FCF. The company has also provided FY25 guidance which is broadly in-line with expectations and medium-term guidance which is broadly ahead of expectations

11/02/2025 1 EN

Underlying

TIM SA (Brazil)

See profile

BRTIMSACNOR5 BM&F Bovespa - Securities, Commodities and Futures Exchange Brazil

Provider

New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
Pan European Healthcare
Global healthcare thematic research

We provide debt research on:

Pan European Telecom Services and Cable

See profile

Analysts

Chris Hoare

Other Reports on these Companies

New Street Research

Global EM Telcos & Towers – NSR EM Top picks Feb 25 update. Top-8 becomes Top-10, add LILAC and TIM Brasil

We update the NSR GEM Top Picks list. No stocks are dropped, and we add LILAC and TIM Brasil to our list, extending it to a Top-10 list from Top-8. Our picks had a good start, up 12% on average since the start of the year. This note also includes key news & other thoughts in order to help investors generate alpha within the EM Telco space.

EUR 9653.00

February 3, 2025 February 3, 2025 1 EN

TheScreener

TIM ON loses on its star level and is downgraded to Slightly Positive

The independent financial analyst theScreener just slightly lowered the general evaluation of TIM ON (BR), active in the Mobile Telecommunications industry. The title has lost a star(s) at the fundamental level and now shows 2 out of 4 stars. Its exposure to market risk remains nonetheless the same and can be still described as defensive. theScreener slightly downgrades the general evaluation to Slightly Positive for the title on account of the lost star(s). As of the analysis date March 4, 2022, the closing price was BRL 12.93 and its potential was estimated at BRL 15.01.

Free Trial

March 5, 2022 March 5, 2022 1 EN

Novo - Cagri Data Makes Sense (BUY, TP DKK880, 11pgs)

We have conducted a deep-dive on the available literature & the CagriSema data and show that the inverse dose response is exactly what we would expect to happen and is what was seen in previous Novo studies. In fact, if we were to see the same cut of the data in REDEFINE4, we would fully expect tirzepatide to show the same thing. There is sufficient data (both clinical & in animal models) that shows that there is nothing untoward in the CagriSema data. Crucially, as we learn more about the biology of obese patients, we expect CagriSema to be a major commercial success. Whilst we remain bullish...

EUR 4826.50

1h / 53m 1h / 53m 1 EN

Blair Levin

Blair Levin

NSR Policy Carr Investigates Comcast; Implications for InvestorsNSR Policy Carr Investigates Comcast; Implications for Investors

NewsMax reported last night that FCC Chair Brendan Carr had sent Comcast CEO Brian Roberts a letter stating that Carr has “asked the FCC's Enforcement Bureau to open an investigation into Comcast and NBCUniversal….to ensure that your companies are not promoting invidious forms of discrimination in violation of FCC regulations and civil rights laws."

EUR 9653.00

2h / 29m 2h / 29m 1 EN

Dan Salmon

Dan Salmon

Shopify (Neutral, raising target to $120 from $115) Slightly raising estimates on beat and guide, target follows

We raise our price target to $120 from $115 on slightly higher estimates following the 4Q beat. Investment Thesis: We remain Neutral rated and expect the shares to be range-bound in the near-term. We continue to expect shares to be driven largely by GMV growth relative to expectations in 2025. Positive catalysts could include increased Enterprise contribution in 2025, while downside catalysts could include any consumer-driven macro weakness in the SMB base.

EUR 9653.00

2h / 45m 2h / 45m 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

TIM Brasil (Buy, TP: BRL22, +39%) Q4 24: Solid quarter, positive MT guidance

Global EM Telcos & Towers – NSR EM Top picks Feb 25 update. Top-8 becomes Top-10, add LILAC and TIM Brasil

TIM ON loses on its star level and is downgraded to Slightly Positive

Novo - Cagri Data Makes Sense (BUY, TP DKK880, 11pgs)

NSR Policy Carr Investigates Comcast; Implications for InvestorsNSR Policy Carr Investigates Comcast; Implications for Investors

Shopify (Neutral, raising target to $120 from $115) Slightly raising estimates on beat and guide, target follows

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe