UBS Group Issues Positive Forecast for Credicorp (NYSE:BAP) Stock Price

Key Points

• UBS Group has increased the target price for Credicorp's stock from $257.00 to $318.00, indicating a potential upside of 19.62% from its current price.
• Several analysts have issued upgrades for the stock, with three analysts rating it as a "buy" and four giving it a "hold" rating, resulting in a consensus rating of "hold" and an average target price of $250.00.
• Credicorp reported strong quarterly earnings, with an EPS of $6.24, beating estimates of $5.73 and achieving revenues of $1.58 billion, surpassing the expected $1.52 billion.

Credicorp (NYSE:BAP - Get Free Report) had its target price lifted by analysts at UBS Group from $257.00 to $318.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the bank's stock. UBS Group's target price would indicate a potential upside of 19.62% from the stock's current price.

Other equities analysts have also recently issued reports about the stock. Wall Street Zen upgraded shares of Credicorp from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. The Goldman Sachs Group upgraded shares of Credicorp from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $174.00 to $225.00 in a research report on Thursday, July 24th. Hsbc Global Res upgraded shares of Credicorp to a "hold" rating in a research report on Friday, September 5th. Citigroup upped their price objective on shares of Credicorp from $255.00 to $275.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Finally, HSBC lowered shares of Credicorp from a "buy" rating to a "hold" rating and boosted their target price for the stock from $225.00 to $255.00 in a report on Friday, September 5th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $250.00.

Credicorp Price Performance

Shares of NYSE:BAP opened at $265.83 on Tuesday. The firm has a 50 day moving average of $244.94 and a 200-day moving average of $215.61. The stock has a market capitalization of $21.14 billion, a PE ratio of 12.60, a PEG ratio of 0.74 and a beta of 1.12. Credicorp has a 12 month low of $165.51 and a 12 month high of $268.48. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.49.

Credicorp (NYSE:BAP - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The bank reported $6.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.73 by $0.51. The business had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.52 billion. Credicorp had a net margin of 23.22% and a return on equity of 17.94%. On average, equities research analysts predict that Credicorp will post 21.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Credicorp

A number of institutional investors have recently added to or reduced their stakes in BAP. Norges Bank bought a new stake in Credicorp during the 2nd quarter worth approximately $110,945,000. Nuveen LLC bought a new stake in shares of Credicorp in the 1st quarter valued at $77,577,000. Millennium Management LLC boosted its stake in shares of Credicorp by 853.1% in the 1st quarter. Millennium Management LLC now owns 319,076 shares of the bank's stock valued at $59,399,000 after purchasing an additional 285,597 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Credicorp by 125.5% in the 2nd quarter. Bank of America Corp DE now owns 491,046 shares of the bank's stock valued at $109,759,000 after purchasing an additional 273,305 shares during the last quarter. Finally, Altrinsic Global Advisors LLC boosted its stake in shares of Credicorp by 125.8% in the 2nd quarter. Altrinsic Global Advisors LLC now owns 474,565 shares of the bank's stock valued at $106,075,000 after purchasing an additional 264,358 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

Credicorp Company Profile

Credicorp Ltd. provides various financial, insurance, and health services and products primarily in Peru and internationally. It operates through Universal Banking, Insurance and Pensions, Microfinance, and Investment Banking and Equity Management segments. The Universal Banking segment grants various credits and financial instruments to individuals and legal entities; and various deposits and current accounts.

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