HSBC analyst Carlos Gomez-Lopez upgraded Credicorp (BAP) to Buy from Hold with a price target of $350, up from $320. The company reported “very strong” Q1 results, supported by low cost of risk, rising loan growth, and “resilient” margin, the analyst tells investors in a research note. HSBC sees “very favorable” macro conditions for Credicorp, including domestic demand growing above 5% year-over-year, copper prices at record highs, and low U.S. tariffs at 15%.
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