Banco Macro initiated with a Buy at Goldman Sachs

Goldman Sachs analyst Tito Labarta initiated coverage of Banco Macro (BMA) with a Buy rating and $111 price target The bank has the highest capital ratio among the Argentina banks, “relatively stable” net interest margin and lower asset quality risks, the analyst tells investors in a research note. Goldman is taking a more balanced view on the group following the share rallies on lower inflation and better economic growth.