TIMB Should I Buy

Goldman Sachs analyst Gustavo Miele initiated coverage of Tim SA with a Neutral rating and $23.40 price target. The company faces structural challenges from the convergence trend in Brazil followed by its competitors, the analyst tells investors in a research note. The firm says that with less than 2% of Brazil's fixed broadband subscribers, Tim can offer its fiber plus postpaid product in far fewer locations than Vivo and Claro.