Jul
14
Zacks upgraded shares of Grupo Financiero Galicia (NASDAQ:GGAL) from a hold rating to a strong-buy rating in a research note released on Tuesday morning, Market Beat Ratings reports. They currently have $23.00 target price on the stock.
According to Zacks, “Grupo Financiero Galicia SA. is involved in the Financial Services Industry. Their principal activity is to continue to be a financial and investment services holding company and to fulfill the banking services activities of Banco Galicia. “
Zacks has also modified their ratings on a number of other financials stocks in the few days. The firm upgraded shares of Mindray Medical International Ltd from a strong sell rating to a hold rating. Also, Zacks downgraded shares of Williams Partners L.P. from a hold rating to a strong sell rating. Finally, Zacks upgraded shares of Vanguard Natural Resources, LLC from a hold rating to a buy rating. Zacks now has a $15.00 price target on that stock.
Shares of Grupo Financiero Galicia (NASDAQ:GGAL) traded up 3.64% during mid-day trading on Tuesday, hitting $20.81. 398,453 shares of the company’s stock traded hands. Grupo Financiero Galicia has a 52-week low of $10.33 and a 52-week high of $26.13. The stock’s 50-day moving average is $20.12 and its 200-day moving average is $20.45. The company has a market cap of $2.71 billion and a P/E ratio of 7.13.
Grupo Financiero Galicia S.A. (NASDAQ:GGAL) is a financial services holding company. Banco de Galicia y Buenos Aires S.A. (Banco Galicia) is the Company’s largest subsidiary. Banco Galicia is a bank that provides, directly or through its subsidiaries, a range of financial products and services to large corporations, small and medium sized companies (SMEs), and individuals. Through the operating subsidiaries of Tarjetas Regionales S.A., a holding company wholly owned by the Bank, the Company provides brand credit cards and consumer finance services throughout Argentina. Through Sudamericana Holding S.A. and its subsidiaries (Sudamericana) it provides insurance products in Argentina. It provides financial services through a distribution platform amongst private-sector financial institutions in Argentina. On April 15, 2014, Banco de Galicia y Buenos Aires SA sold a 95% stake in Galicia Administradora de Fondos to Grupo Financiero Galicia.
To get a free copy of the research report on Grupo Financiero Galicia (GGAL), click here. For more information about research offerings from Zacks Investment Research, visit Zacks.com
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