Goldman Sachs Starts Grupo Santander Mexico (BSMX) at Buy

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November 8, 2012 9:58 AM EST
Get Alerts BSMX Hot Sheet
Price: $5.46 --0%

Rating Summary:
    4 Buy, 5 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 4 | Down: 16 | New: 22
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Goldman Sachs initiates coverage on Grupo Santander Mexico (NYSE: BSMX) with a Buy. PT $17.20.

The firm comments, "Santander Mexico is the fourth-largest bank in Mexico, exposed to the positive secular trends that should drive economic growth in Mexico and increase penetration of financial services. As one of the five most liquid Mexican shares, we see Santander Mexico as a good vehicle to invest in Mexican growth. We expect EPS to grow by 20%/year through 2014, driven by loans growth, expanding margins and solid efficiency, driving ROE to close to 20%."


For an analyst ratings summary and ratings history on Grupo Santander Mexico click here. For more ratings news on Grupo Santander Mexico click here.

Shares of Grupo Santander Mexico closed at $13.98 yesterday.

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