BYMA Bolsas y Mercados S.A.
Re: BYMA Bolsas y Mercados S.A.
Rumbo a los 600 amigos todo llega en la vida y en la bolsa hay que saber esperar. Buenas inversiones.
Re: BYMA Bolsas y Mercados S.A.
Y termino la rueda, primera en volumen y cerramos cerca de maximo.
Como la ven para mañana?, arrancamos nuevamente la senda alcista?
Como la ven para mañana?, arrancamos nuevamente la senda alcista?
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Re: BYMA Bolsas y Mercados S.A.
Otra vez USA



Re: BYMA Bolsas y Mercados S.A.
GinzaTrader escribió:Gil
Estas bajista?

Re: BYMA Bolsas y Mercados S.A.
Parece que sale a máximos........
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- Mensajes: 4361
- Registrado: Jue Ago 28, 2014 2:25 pm
Re: BYMA Bolsas y Mercados S.A.
Si la dejan vuelve a maximos hoy mismo.
Re: BYMA Bolsas y Mercados S.A.
Presentan el estado contable el 12/3. Buenas inversiones.
Re: BYMA Bolsas y Mercados S.A.
Los que liquidan papeles entre $ 342/344 parece que no leyeron el informe del precio de los $ 500 en 10 meses.
Re: BYMA Bolsas y Mercados S.A.
Informe de Itau sobre ByMA:
We are initiating coverage of Bolsas y Mercados Argentinos (ByMA) with an outperform rating and a
YE18 target price of ARS 500/share, implying a 56.3% upside (41.3% in USD terms). ByMA is Argentina’s
only vertically integrated exchange, with absolute dominance in equities trading and the custody of securities.
We believe that ByMA is the best vehicle to play Argentina’s recovery and the development of its capital
markets.
Our YE18 target price of ARS 500/share provides 56.3% upside to our estimated fair value, which we base on
a discounted cash flow estimate that assumes a 4.5% long-term growth rate. The target price is consistent with
2019e multiple of 19.7x P/E and 15.5x EV/EBITDA, which we deem reasonable in light of ByMA’s high
expected growth. Adjusting by growth, ByMA is trading at a 0.74x FEV/EBITDA/EBITDA CAGR 2019-21.
Momentum
We expect 27% nominal earnings CAGR through 2022, driven by large increases in equities ADTV and
a significant increase in the assets under custody at the central securities depository level. On top of
that, we expect the company to widen its EBIT margin to 50% by 2019 (35% YTD) as a result of the
development of the market and cost dilution.
Risks
Risks to our investment thesis could include: i) new competitors entering the market; ii) Argentina failing to be
reclassified as an emerging market by MSCI in June 2018; iii) Caja de Valores’ limitation on dividend
distribution remaining in place as rates go down; and iv) an external shock in the capital markets.
We are initiating coverage of Bolsas y Mercados Argentinos (ByMA) with an outperform rating and a
YE18 target price of ARS 500/share, implying a 56.3% upside (41.3% in USD terms). ByMA is Argentina’s
only vertically integrated exchange, with absolute dominance in equities trading and the custody of securities.
We believe that ByMA is the best vehicle to play Argentina’s recovery and the development of its capital
markets.
Our YE18 target price of ARS 500/share provides 56.3% upside to our estimated fair value, which we base on
a discounted cash flow estimate that assumes a 4.5% long-term growth rate. The target price is consistent with
2019e multiple of 19.7x P/E and 15.5x EV/EBITDA, which we deem reasonable in light of ByMA’s high
expected growth. Adjusting by growth, ByMA is trading at a 0.74x FEV/EBITDA/EBITDA CAGR 2019-21.
Momentum
We expect 27% nominal earnings CAGR through 2022, driven by large increases in equities ADTV and
a significant increase in the assets under custody at the central securities depository level. On top of
that, we expect the company to widen its EBIT margin to 50% by 2019 (35% YTD) as a result of the
development of the market and cost dilution.
Risks
Risks to our investment thesis could include: i) new competitors entering the market; ii) Argentina failing to be
reclassified as an emerging market by MSCI in June 2018; iii) Caja de Valores’ limitation on dividend
distribution remaining in place as rates go down; and iv) an external shock in the capital markets.
Re: BYMA Bolsas y Mercados S.A.
La información salió del diario el economista. Buenas inversiones.
Re: BYMA Bolsas y Mercados S.A.
Leonidas escribió:El banco Itau recomienda la compra de las acciones BYMA y calcula que cotizará a no menos de $ 500
Que feo este tipo de "noticias"
Re: BYMA Bolsas y Mercados S.A.
El banco Itau recomienda la compra de las acciones BYMA y calcula que cotizará a no menos de $ 500
Re: BYMA Bolsas y Mercados S.A.
alex99 escribió:Alguien sabe cuál es el Price Target de BYMA que le puso el Banco ITAU?
no se pero es la mas traicionera que hay ni con todos los indicadores, al palo, buenas notas fogoneandolas, el humo de emergentes, y la p.o.ron ga esta despues de 8% se queda sin nafta xD no se si es el mercaducho que tenemos o la gente esta re rata no pagan una goma
Re: BYMA Bolsas y Mercados S.A.
pablon85 escribió:Chau, nos vemos en los $500.
Gil
Re: BYMA Bolsas y Mercados S.A.
tom78 escribió:https://www.cronista.com/finanzasmercad ... -0079.html
Posibles motivos de la suba.
Alguien sabe cuál es el Price Target de BYMA que le puso el Banco ITAU?
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