Scotiabank Upgrades Credicorp (BAP)

Fintel reports that on July 7, 2023, Scotiabank upgraded their outlook for Credicorp (NYSE:BAP) from Sector Perform to Sector Outperform .

Analyst Price Forecast Suggests 9.65% Upside

As of July 6, 2023, the average one-year price target for Credicorp is 166.36. The forecasts range from a low of 128.27 to a high of $201.65. The average price target represents an increase of 9.65% from its latest reported closing price of 151.71.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Credicorp is 18,894MM, an increase of 18.94%. The projected annual non-GAAP EPS is 67.31.

What is the Fund Sentiment?

There are 529 funds or institutions reporting positions in Credicorp. This is a decrease of 11 owner(s) or 2.04% in the last quarter. Average portfolio weight of all funds dedicated to BAP is 0.52%, an increase of 18.97%. Total shares owned by institutions increased in the last three months by 2.86% to 70,826K shares. The put/call ratio of BAP is 0.23, indicating a bullish outlook.

What are Other Shareholders Doing?

Dodge & Cox holds 5,541K shares representing 6.97% ownership of the company. In it's prior filing, the firm reported owning 5,105K shares, representing an increase of 7.87%. The firm increased its portfolio allocation in BAP by 5.25% over the last quarter.

DODFX - Dodge & Cox International Stock Fund holds 3,197K shares representing 4.02% ownership of the company. In it's prior filing, the firm reported owning 3,039K shares, representing an increase of 4.94%. The firm decreased its portfolio allocation in BAP by 3.58% over the last quarter.

Jpmorgan Chase holds 2,954K shares representing 3.72% ownership of the company. In it's prior filing, the firm reported owning 2,940K shares, representing an increase of 0.48%. The firm decreased its portfolio allocation in BAP by 9.38% over the last quarter.

Massachusetts Financial Services holds 2,917K shares representing 3.67% ownership of the company. In it's prior filing, the firm reported owning 2,540K shares, representing an increase of 12.94%. The firm decreased its portfolio allocation in BAP by 83.15% over the last quarter.

Schroder Investment Management Group holds 2,049K shares representing 2.58% ownership of the company. In it's prior filing, the firm reported owning 1,371K shares, representing an increase of 33.09%. The firm decreased its portfolio allocation in BAP by 68.67% over the last quarter.

Credicorp Background Information
(This description is provided by the company.)

Credicorp Ltd. is the leading financial services holding company in Peru with presence in Chile, Colombia and Bolivia. Credicorp has a diversified business portfolio organized into four lines of business: Universal Banking, through Banco de Credito del Peru - BCP and Banco de Credito de Bolivia; Microfinance, through Mibanco in Peru and Colombia; Insurance & Pension Funds, through Grupo Pacifico and Prima AFP; and Investment Banking & Wealth Management, through Credicorp Capital, Wealth Management at BCP and Atlantic Security Bank.

Additional reading:

• | Earnings Release 1Q / 2023 Operating and Financial Highlights Credicorp Ltd. Reports First Quarter 2023 Financial and Operating Results ROE of 18.7% Driven by Resilient Core Income Cost of Risk Stable Sequentially Remaining High impacted by Social
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This story originally appeared on Fintel.