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Banco Macro price target raised to $91 from $80 at BofA
The Fly

Banco Macro price target raised to $91 from $80 at BofA

BofA raised the firm’s price target on Banco Macro (BMA) to $91 from $80 and keeps a Neutral rating on the shares. After Q3 earnings, the firm fine-tunes its net income estimates by 13% on average in 2024-2026, mainly to reflect stronger lending activity and revenue generation, noting that it forecasts Banco Macro to post EPS contraction of 66% in FY24, while an average earnings growth of 61% in 2025-2026.

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