Goldman Sachs Upgrades Banco Macro SA (ADR) to Buy with Price Target $86.50

Brokerage firm Goldman Sachs Upgrades its rating on Banco Macro SA (ADR)(NYSE:BMA). In a research note issued to the investors, the brokerage major Raises the price-target to $86.50 per share. The shares have been rated Buy. Previously, the analysts had a Neutral rating on the shares. The rating by Goldman Sachs was issued on Sep 26, 2016.

Banco Macro SA (ADR) (BMA) made into the market gainers list on Thursdays trading session with the shares advancing 2.78% or 2.07 points. Due to strong positive momentum, the stock ended at $76.48, which is also near the day’s high of $77.41. The stock began the session at $75.11 and the volume stood at 1,66,181 shares. The 52-week high of the shares is $83.18 and the 52 week low is $35.93. The company has a current market capitalization of $4,471 M and it has 5,84,56,302 shares in outstanding.

Banco Macro SA (ADR)(BMA) last announced its earnings results on Aug 9, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $298.51M. Analysts had an estimated revenue of $327.98M. Earnings per share were $2.07. Analysts had estimated an EPS of $1.72.

Banco Macro S.A. (the Bank) is a bank. The Bank offers traditional bank products and services to companies including those operating in regional economies as well as to individuals. The Bank offers savings and checking accounts credit and debit cards consumer finance loans (including personal loans) mortgage loans automobile loans overdrafts credit-related services home and car insurance coverage tax collection utility payments automatic teller machines (ATMs) and money transfers. The Bank offers Plan Sueldo payroll services lending corporate credit cards mortgage finance transaction processing and foreign exchange. The Bank offers transaction services to its corporate customers such as cash management customer collections payments to suppliers payroll administration foreign exchange transactions foreign trade services corporate credit cards and information services such as its Datanet and Interpymes services.

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