TIM shares surge after BofA's price target hike
** Shares in Telecom Italia (TIM) TLIT.MI rise as much as 7.3% after Bank of America (BofA) ups its target price to 0.34 euros ($0.3744) from 0.26 euros and reiterates a "buy" stance
** BofA expects domestic growth to resume as consumer pricing stabilises and enterprise operations benefit from scale in a growing market
** "Leverage is now a past problem," BofA says citing the completed sale of the fixed network business to U.S. investment firm KKR KKR.N.
** The stock move follows read-across after Italian regulator's probe into Swisscom's Vodafone VOD.L Italia acquisition
** TIM may benefit from possible remedies connected with the watchdog's request on Swisscom-Vodafone deal, a Milan-based trader says
** The trader adds the procedure will not stop the deal, but is likely to pave the way to remedies in segments with high market concentration, such as the business sector, in which there were possible threats to TIM
** TIM stock is on track for the best day since May 2023
** Including Thursday's rise stock has dropped by 18.15% YTD
($1 = 0.9082 euros)
Reporting by Romolo Tosiani, Elvira Pollina, editing by Giulia Segreti
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