BofA Raises Credicorp Price Target to $408

Bank of America (BofA) lifted its price target on Credicorp Ltd. (NYSE:BAP) to $408 from $361 on June 15, while maintaining a Buy rating on the shares. The firm stated that it is rolling over its valuation basis to 2027 and remains bullish on the company's prospects.

Recommendation Change

• Previous Price Target: $361
• New Price Target: $408
• Rating: Buy (unchanged)
• Increase: Approximately 13%

Analyst Rationale

BofA sees Credicorp as an attractive investment opportunity due to its strong growth and relatively low valuation. The new price target reflects improved earnings expectations based on a 2027 valuation basis, indicating confidence in the company's continued positive performance.

Context

Credicorp is a leading financial services company in Latin America and is considered one of the cheap growth stocks with potential. No other analyst comments have been reported yet. The stock currently trades below the new price target, leaving room for upside.

What to Make of This

The price target increase reflects a positive outlook from BofA on Credicorp, but it does not constitute a buy or sell recommendation. Investors are encouraged to conduct their own analysis.