Grupo Supervielle upgraded to Buy from Neutral at BofA

BofA analyst Ernesto Gabilondo upgraded Grupo Supervielle (SUPV) to Buy from Neutral with a price target of $15, up from $11.20. The “impressive” recovery of the Argentine economy and a potential IMF agreement “should bring credibility to gradually remove capital controls and avoid an important depreciation of the currency,” says the analyst, who adds that Argentina is “one of the few countries in Latin America under a right-and-market friendly government likely to attract important investments into the country.”