Citi upgraded Grupo Financiero Galicia to Buy from Neutral with a $21.80 price target. The analyst views the setup for Argentina diversified banks as “appealing” into the election on October 22. Citi expects a positive outcome for Argentine assets after October. “The road ahead will be bumpy, but there is an interesting asymmetry within the intersection of politics, macro and companies’ strategies,” the analyst tells investors in a research note.
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