HALISTER1: Santander Mexico Gains Most on IPC Gauge as JPMorgan Says Buy

Santander Mexico Gains Most on IPC Gauge as JPMorgan Says Buy

(Bloomberg) -- Shares rise as much as 3.2%, the biggest jump since April 24.
  • SANMEXB raised to overweight by JPM analyst Domingos Falavina on valuation; PT increased to 38 pesos from 34 pesos
  • JPM expects EPS growth of 14% in 2017, citing resilient loan growth, increased margins, “solid” asset quality
  • Mexican financial system seen benefiting from sustained higher rates and credit growth expected to sit around 9% to 10% in coming years
  • NOTE: SANMEXB has 5 buys, 10 holds, 4 sells; avg PT 33 pesos
  • NOTE, April 28: Santander Mexico 1Q Net MXN4.52b, Est. MXN4.17b, Link

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
SANMEXB MM (Grupo Financiero Santander Mexico SAB de CV)

People
Domingos Falavina (JPMorgan Chase & Co)

Topics
Emerging Mkts News, Analysis

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