Jan 19, 2011 (SmarTrend News Watch via COMTEX) --
Morgan Stanley initiated coverage of Grupo Financiero Galicia (NASDAQ:GGAL)
with an overweight rating and $24 price target.
Shares of the company are currently trading 4.06% higher at $16.16.
Grupo Financiero Galicia has a potential upside of 4% based on a current price
of $16.16 and an average consensus analyst price target of $16.8.
Grupo Financiero Galicia is currently above its 50-day moving average (MA) of
$15.45 and above its 200-day of $9.55.
In the last five trading sessions, the 50-day MA has remained constant while
the 200-day MA has risen 0.99%.
Grupo Financiero Galicia S.A. operates as a financial services holding company
for Banco Galicia, a commercial bank in Argentina. The Bank attracts deposits
and offers business and consumer loans, mortgages, investment banking,
securities brokerage services, foreign exchange services, mutual funds,
insurance, annuities, and credit cards.
Write to Chip Brian at
cbrian@tradethetrend.com