Barclays Disagrees with Bullish Consensus on Bancolombia (CIB); Cuts PT and Estimates
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Price: $63.47 +0.60%
Rating Summary:
1 Buy, 4 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
1 Buy, 4 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade CIB Now!
Barclays maintains an 'Underweight' on Bancolombia S.A. (NYSE: CIB) price target lowered from $65 to $57.
Analyst, Fabio Zagatti, said, "Despite a still-sound macro environment, we believe current valuation is undemanding for the 15-17% ROE we expect in the coming years at CIB. We view consensus as overly bullish in 2012 and 2013 (we are some 15% below), even ahead of management's guidance."
Zagatti lowers FY12 EPS estimates from $4.64 to $4.11 and FY13 from $5.37 to $4.56.
For an analyst ratings summary and ratings history on Bancolombia S.A. click here. For more ratings news on Bancolombia S.A. click here.
Shares of Bancolombia S.A. closed at $58.93 yesterday, with a 52 week range of $53.64-$69.87.
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Analyst, Fabio Zagatti, said, "Despite a still-sound macro environment, we believe current valuation is undemanding for the 15-17% ROE we expect in the coming years at CIB. We view consensus as overly bullish in 2012 and 2013 (we are some 15% below), even ahead of management's guidance."
Zagatti lowers FY12 EPS estimates from $4.64 to $4.11 and FY13 from $5.37 to $4.56.
For an analyst ratings summary and ratings history on Bancolombia S.A. click here. For more ratings news on Bancolombia S.A. click here.
Shares of Bancolombia S.A. closed at $58.93 yesterday, with a 52 week range of $53.64-$69.87.
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