Brian Flores CFA, an analyst from Citi, reiterated the Buy rating on Credicorp. The associated price target is $275.00.
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Brian Flores CFA has given his Buy rating due to a combination of factors that highlight Credicorp’s strong financial performance and growth potential. The company is experiencing increased synergies and profitability across its business units, which are expected to drive further growth, particularly in the consumer segment. This growth is anticipated to positively impact risk-adjusted net interest margins (NIMs), contributing to the overall profitability of the bank.
Additionally, Credicorp’s subsidiaries are showing improvements in both contribution and profitability, enhancing the company’s diversified income streams. The ongoing digitalization efforts, such as those driven by Yape, are creating opportunities for cross-selling, further bolstering revenue potential. The macroeconomic environment in Peru remains supportive, with positive trends in the financial system and Credicorp’s operations. The bank’s return on equity (ROE) is approaching pre-pandemic levels, indicating a potential valuation gap that could lead to a higher stock multiple. These factors, combined with consistent performance, support the Buy rating with a target price of US$275.
According to TipRanks, Flores CFA is ranked #2258 out of 9925 analysts.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $281.00 price target.