Why GGAL is ready to recover
GGAL took a big hit to its stock price back in August after the Argentinian peso plunged and Argentina raised interest rates to 60%. Investors feared that would hurt GGAL's earnings, though I've seen no evidence that it has. Now the situation has stabilized, with the peso flat against the dollar for the last few months and interest rates gradually coming down. Rates currently sit at 50%.
This should be good news for GGAL, which now has a 9.7/10 average analyst rating. Analysts have been greatly raising GGAL's earnings forecasts. GGAL currently trades at an astonishingly low multiple, even as its huge dividend raise this year should have it trading at a much higher multiple than it has in the past. All signs appear to be good for this stock, and I will be closely watching its earnings report in February to see what the impact of interest rate volatility has been.
This should be good news for GGAL, which now has a 9.7/10 average analyst rating. Analysts have been greatly raising GGAL's earnings forecasts. GGAL currently trades at an astonishingly low multiple, even as its huge dividend raise this year should have it trading at a much higher multiple than it has in the past. All signs appear to be good for this stock, and I will be closely watching its earnings report in February to see what the impact of interest rate volatility has been.
Feragatname
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