HSBC Upgrades Credicorp (NYSE:BAP) to “Buy”

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Credicorp (NYSE:BAP) was upgraded by analysts at HSBC from a “hold” rating to a “buy” rating in a report issued on Tuesday, MarketBeat reports. The firm presently has a $250.00 price target on the bank’s stock, up from their previous price target of $245.00. HSBC’s target price would indicate a potential upside of 24.26% from the stock’s current price.

A number of other research firms also recently weighed in on BAP. Zacks Investment Research raised Credicorp from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. ValuEngine downgraded Credicorp from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. raised Credicorp from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $232.00 to $250.00 in a report on Tuesday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $258.00.

BAP opened at $201.19 on Tuesday. Credicorp has a fifty-two week low of $201.19 and a fifty-two week high of $252.49. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $16.12 billion, a P/E ratio of 13.52, a P/E/G ratio of 0.95 and a beta of 0.70. The stock’s fifty day moving average price is $225.89.

Hedge funds have recently bought and sold shares of the stock. Marshall Wace North America L.P. acquired a new position in Credicorp in the first quarter valued at about $72,000. Parallel Advisors LLC raised its stake in Credicorp by 24.2% in the first quarter. Parallel Advisors LLC now owns 328 shares of the bank’s stock valued at $79,000 after purchasing an additional 64 shares in the last quarter. Huntington National Bank raised its stake in Credicorp by 29.7% in the second quarter. Huntington National Bank now owns 529 shares of the bank’s stock valued at $121,000 after purchasing an additional 121 shares in the last quarter. Marshall Wace LLP acquired a new position in Credicorp in the first quarter valued at about $201,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Credicorp in the first quarter valued at about $207,000. 67.53% of the stock is owned by institutional investors and hedge funds.

Credicorp Company Profile

Credicorp Ltd., a financial services holding company, 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 Wealth Management segments. The company offers deposits and current accounts, and various credits and financial instruments to individuals and legal entities.

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Analyst Recommendations for Credicorp (NYSE:BAP)

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