Deutsche Bank Upgrades Banco Latinoamericano de Comercio Exterior, S.A (BLX) to Buy; Meetings with CFO Offers More Confidence

Deutsche Bank upgraded Banco Latinoamericano de Comercio Exterior, S.A (NYSE: BLX) to Buy. PT raised to $21.

Deutsche analyst says, "We recently spent some time on the road with Bladex's CFO and came away pleasantly surprised with increased confidence that management will eventually reach its 15% ROE target, although still a few years away. While we don't think the bank will deliver +20% ROEs like its Latam peers, we think it is more defensive, trades at a steep discount, and compares favorably to Developed Market Banks. Indeed, the bank trades at a discount to most Developed Market peers with similar (or better) profitability and growth prospects."

For more ratings news on Banco Latinoamericano de Comercio Exterior, S.A click here and for the rating history of Banco Latinoamericano de Comercio Exterior, S.A click here.

Shares of Banco Latinoamericano de Comercio Exterior, S.A closed at $17.13 yesterday.

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