Oct
7
Grupo Financiero Galicia (NASDAQ:GGAL) was upgraded by Zacks from a “hold” rating to a “buy” rating in a research note issued on Wednesday, Marketbeat.com reports. The brokerage presently has a $21.00 price objective on the stock. Zacks‘s target price would indicate a potential upside of 10.94% from the stock’s current price.
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. “
Grupo Financiero Galicia (NASDAQ:GGAL) traded up 6.23% during mid-day trading on Wednesday, hitting $18.93. 317,123 shares of the stock traded hands. The company’s 50 day moving average is $18.82 and its 200 day moving average is $20.59. The company has a market cap of $2.46 billion and a P/E ratio of 6.24. Grupo Financiero Galicia has a 12 month low of $10.33 and a 12 month high of $26.13.
A number of other brokerages have also recently commented on GGAL. Raymond James upgraded shares of Grupo Financiero Galicia from a “market perform” rating to an “outperform” rating and set a $30.00 price target for the company in a research report on Monday, July 20th. Piper Jaffray upgraded shares of Grupo Financiero Galicia from a “market perform” rating to an “outperform” rating and set a $30.00 target price for the company in a research report on Monday, July 20th.
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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