JP Morgan Upgrades Credicorp: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
JP Morgan has upgraded its rating of Credicorp (NYSE:BAP) to Overweight with a new price target of $190.00, up from the previous $162.00. Following the upgrade, Credicorp's shares have risen 3.61% to $145.39. The new price target suggests a potential upside of 30.68% from the current share price. Credicorp is a Peruvian financial services company engaged in various banking and insurance activities, as well as investment banking and asset management through its subsidiaries.
December 15, 2023 | 5:00 pm
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JP Morgan upgraded Credicorp to Overweight and increased the price target from $162.00 to $190.00, which could lead to a 30.68% upside from the current price.
The upgrade by JP Morgan is a strong positive signal for investors, suggesting confidence in Credicorp's future performance. The substantial increase in the price target and the subsequent rise in share price reflect investor optimism. Typically, such upgrades can lead to continued short-term price momentum as the market adjusts to the new information.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100