Banco Macro upgraded to Overweight from Underweight at Morgan Stanley

Morgan Stanley double upgraded Banco Macro (BMA) to Overweight from Underweight with a $12.50 price target Policy reforms are steering Argentina toward macroeconomic stabilization, the analyst tells investors in a research note. The firm says that if successful, it could be the region’s fastest-growing banking market, supported by low credit penetration and many structural advantages. Morgan Stanley upgraded the Argentine banks to Overweight, saying macro stabilization is playing out.