Credit Suisse Group AG Increases Credicorp Ltd. (BAP) Price Target to $196.00
Credicorp Ltd. (NYSE:BAP) had its price target upped by investment analysts at Credit Suisse Group AG from $154.00 to $196.00 in a research note issued to investors on Wednesday. The brokerage presently has an “outperform” rating on the stock. Credit Suisse Group AG’s price target would indicate a potential upside of 24.81% from the stock’s current price.
Several other equities analysts have also recently commented on BAP. Zacks Investment Research upgraded Credicorp from a “hold” rating to a “buy” rating and set a $168.00 target price for the company in a research note on Wednesday, July 6th. JPMorgan Chase & Co. increased their target price on Credicorp from $166.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Credicorp has a consensus rating of “Buy” and a consensus price target of $175.75.
Credicorp (NYSE:BAP) traded up 2.04% during mid-day trading on Wednesday, reaching $157.04. 266,151 shares of the company’s stock were exchanged. The company’s market capitalization is $12.50 billion. Credicorp has a 52 week low of $84.72 and a 52 week high of $166.26. The company’s 50 day moving average price is $158.23 and its 200-day moving average price is $147.29.
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Several large investors have recently bought and sold shares of the stock. UBS Group AG raised its stake in Credicorp by 44.7% in the first quarter. UBS Group AG now owns 30,374 shares of the company’s stock valued at $3,979,000 after buying an additional 9,379 shares in the last quarter. Samlyn Capital LLC bought a new stake in shares of Credicorp during the first quarter valued at $29,739,000. Quantbot Technologies LP bought a new stake in shares of Credicorp during the second quarter valued at $261,000. AMP Capital Investors Ltd raised its stake in shares of Credicorp by 44.3% in the first quarter. AMP Capital Investors Ltd now owns 81,676 shares of the company’s stock valued at $10,707,000 after buying an additional 25,055 shares in the last quarter. Finally, BARING ASSET MANAGEMENT Ltd raised its stake in shares of Credicorp by 153.1% in the second quarter. BARING ASSET MANAGEMENT Ltd now owns 58,871 shares of the company’s stock valued at $9,086,000 after buying an additional 35,613 shares in the last quarter. 65.63% of the stock is currently owned by institutional investors and hedge funds.
Credicorp Ltd. is a financial services holding company in Peru. The Company has four operating segments based on its products and services, which include banking, insurance, pension funds and investment banking. Its operating subsidiaries include Banco de Credito del Peru; Atlantic Security Bank, which it holds through Atlantic Security Holding Corporation; El Pacifico-Peruano Suiza Compania de Seguros y Reaseguros (Grupo Pacifico); Prima AFP SA, and Credicorp Capital Ltd.
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