Telemig Celular (TMB)

We are keeping our Buy recommendation on Telemig Celular Participacoes S.A. (<a href=http://www.zacks.com/stock/quote/tmb>TMB</a>). Despite the weak economic conditions throughout the world, Telemig posted great results for the fourth quarter 2008. <p> We believe that the stock remains attractively priced, given the company&#39;s positive short-term growth trends. Additionally, a more relaxed monetary policy in Brazil and the company&#39;s proposed dividend are very encouraging. <p> Finally, we believe Telemig&#39;s valuation will converge with that of Vivo in the upcoming quarters. In the medium term, Telemig will be incorporated into Vivo, creating considerable synergies.

Comments

Leave a Reply