UPDATE - Barclays upgraded Credicorp (NYSE: BAP) from Underweight to Equalweight
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Price: $370.21 --0%
Rating Summary:
11 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
Rating Summary:
11 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
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UPDATE - Barclays upgraded Credicorp (NYSE: BAP) from Underweight to Equalweight. PT maintained at $115.
Barclays analyst says, "Interestingly, judging by how negatively the Peruvian equity market reacted to President-elect Ollanta Humala's victory on the back of last week's election, we believe market participants have apparently and incorrectly priced in the likelihood of Keiko Fujimori's defeat. We understand there is still too much uncertainty, and the fact that Peruvian assets were not particularly cheap may have certainly helped on the way down. But after last week's correction, we think that a good portion of 'downside risk' has probably been incorporated in Peruvian bank valuations, and in particular for Credicorp (BAP)."
Barclays analyst says, "Interestingly, judging by how negatively the Peruvian equity market reacted to President-elect Ollanta Humala's victory on the back of last week's election, we believe market participants have apparently and incorrectly priced in the likelihood of Keiko Fujimori's defeat. We understand there is still too much uncertainty, and the fact that Peruvian assets were not particularly cheap may have certainly helped on the way down. But after last week's correction, we think that a good portion of 'downside risk' has probably been incorporated in Peruvian bank valuations, and in particular for Credicorp (BAP)."
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