Reuters: Regulatory News: STXNEWS LATAM-Goldman ups Tim Brasil target, cuts estimates

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STXNEWS LATAM-Goldman ups Tim Brasil target, cuts estimates Oct 31st 2012, 12:11 Wed Oct 31, 2012 8:11am EDT Goldman Sachs Group analyst Lucio Aldworth raised on Wednesday his 12-month price target for shares in TIM Participações SA , the local unit of Telecom Italia SpA, to 8.60 reais from 8.50 reais previously. Earnings per share estimates at the company, which posted a slight miss in third-quarter earnings according to a Reuters poll, were lowered by 5 percent in average through 2014 "due to lower growth assumptions in the voice business," Aldworth said in a note. "TIM still faces strong competition, macro and possibly regulatory headwinds in Brazil that we think could prevent re-rating in the near-term," the analyst wrote in a client note. Goldman Sachs kept a "neutral" recommendation on the stock.

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