We have downgraded our long-term recommendation from Neutral to Underperform on Brazilian telecom carrier Telefonica Brasil SA (NYSE:VIV) following its first quarter results. The company’s first quarter earnings missed the Zacks Consensus Estimate on struggling fixed-line business.
Though the currently lagging fixed-line business is expected to benefit from the expansion of video, broadband Internet and Pay TV services, we remain skeptical about its ability to regain profitability this year. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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