Re: GGAL Grupo Financiero Galicia
Publicado: Vie Mar 27, 2015 3:46 pm
Están todos carga....
el_cordobes escribió:a que hora arranca esto ?
Casperink escribió:Buenas, Alguien podría poner la puntas por favor.
Gracias
lucho07 escribió:
Casperink escribió:Buenas, Alguien podría poner la puntas por favor.
Gracias
LJP escribió:11.6 el ccl.
alguien esta vendiendo merval desde ayer mur por debajo de los precios de los adr.
MAGICBOX escribió:Me pasaron un informe de Morgan Stanley auspicioso para los bancos![]()
No me lo deja subir porque supera los 2MB, si alguien me ayuda trato de subirlo
Pego el principio..
Target GGAl usd 40![]()
Argentina Financial Institutions
Remain Bullish; Policy Change Offers
Meaningful Upside
Upcoming presidentialelection represents catalyst for valuecreation.
A movetoward orthodoxand market-friendly economic policies
should result in faster bancarization.Stocks still tradeat significant
discount to Latam averages.
Expect positive changes to macro and regulatory policies as a result of
upcoming presidential election. Our investment thesis on Argentine banks
is playing out. As the market prices in a favorableelection outcome,and the
economic normalization that should ensue, bank stocks haverallied
significantly, up 130-190% over thelast 12 months.Wethink thereis still
meaningful upside.Weareraising our estimates by 10-17% and pricetargets
130-180%; wesee 42-58% potential return.
Valuation remains attractive despite strong performance. Based on
franchisevalue, still our favored tool to asses valuation in Argentina, the banks
are pricing in a discount of 35-65% relativeto Latam peers.These discounts
look very attractiverelativeto the opportunities banks offer. Argentina is the
third largesteconomy in Latam,yet one of theleast penetrated banking
markets. If the political/macro scenario weenvision plays out, Argentina could
bethefastest-growing banking market in theregion.
El Brujo escribió:El copiloto tomó los mandos del Merval y no deja que nadie entre a la cabina (J C)