Credicorp (BAP) Soars 1.59% to 2019 High on UBS Price Target Hike

Credicorp (BAP) shares experienced a notable intraday gain of 1.59%, reaching their highest level since August 2019. This surge reflects a strong market sentiment towards the company's recent developments and future prospects.

The strategy of buying BAP shares after they reached a recent high and holding for 1 week yielded moderate returns over the past 5 years, with a 9.77% gain. This suggests a relatively conservative approach, suitable for investors seeking stability. However, the flat 5-year performance indicates limited gains, making it less attractive compared to other strategies.

UBS recently raised its price target for Credicorp from $221 to $257, maintaining a Buy rating on the shares. This adjustment suggests confidence in the company's future performance, which could positively influence Credicorp's stock price. The increased price target indicates that analysts are optimistic about the company's growth potential and its ability to deliver strong financial results in the coming quarters.