Is Buying 52-Week Stock Like Credicorp Ltd. (USA) (BAP) a Winning Strategy?

September 17, 2017 - By Marie Mckinney

The stock of Credicorp Ltd. (USA) (NYSE:BAP) hit a new 52-week high and has $229.88 target or 8.00 % above today’s $212.85 share price. The 9 months bullish chart indicates low risk for the $20.07B company. The 1-year high was reported on Sep, 17 by Barchart.com. If the $229.88 price target is reached, the company will be worth $1.61B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 0.83% or $1.76 on September 15, reaching $212.85. About 366,597 shares traded or 54.97% up from the average. Credicorp Ltd. (USA) (NYSE:BAP) has risen 23.51% since September 17, 2016 and is uptrending. It has outperformed by 6.81% the S&P500.

Investors wait Credicorp Ltd. (USA) (NYSE:BAP) to report on November, 2. its quarterly earnings Wall Street analysts expect $3.52 earnings per share, down $0.05 or 1.40 % from last year’s $3.57 same quarter earnings. This translates into $331.91M profit for BAP giving the stock a 15.12 P/E. This is assuming the current $3.52 EPS is accurate. Credicorp Ltd. (USA)’s Wall Street analysts see -0.56 % negative EPS growth, taking into account the $3.54 EPS reproted in the previous quarter,

Credicorp Ltd. (USA) (NYSE:BAP) Ratings Coverage

Among 7 analysts covering Credicorp LTD (NYSE:BAP), 6 have Buy rating, 0 Sell and 1 Hold. Therefore 86% are positive. Credicorp LTD has $21900 highest and $142 lowest target. $179.20’s average target is -15.81% below currents $212.85 stock price. Credicorp LTD had 10 analyst reports since September 11, 2015 according to SRatingsIntel. Barclays Capital maintained Credicorp Ltd. (USA) (NYSE:BAP) rating on Tuesday, March 15. Barclays Capital has “Overweight” rating and $149 target. On Tuesday, August 15 the stock rating was maintained by UBS with “Buy”. The firm has “Overweight” rating by JP Morgan given on Thursday, August 11. Credit Suisse maintained the stock with “Outperform” rating in Wednesday, September 21 report. The firm has “Overweight” rating given on Friday, September 11 by Morgan Stanley. The rating was downgraded by Santander to “Hold” on Thursday, March 24. The rating was initiated by Scotia Capital on Tuesday, March 15 with “Outperform”.

Credicorp Ltd. is a financial services holding firm in Peru. The company has market cap of $20.07 billion. The Firm has four operating divisions based on its services and products, which include banking, insurance, pension funds and investment banking. It has a 15.06 P/E ratio. The Company’s operating subsidiaries include Banco de Credito del Peru; Atlantic Security Bank, which it holds through Atlantic Security Holding Corporation; El Pacifico-Peruano Suiza Compania de Seguros y Reaseguros ; Prima AFP S.A., and Credicorp Capital Ltd. (Credicorp Capital).

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