The stock of Banco Latinoamericano de Comerci Extr SA (NYSE:BLX) hit a new 52-week high and has $37.61 target or 28.00% above today’s $29.38 share price. The 5 months bullish chart indicates low risk for the $1.17 billion company. The 1-year high was reported on Oct, 19 by Barchart.com. If the $37.61 price target is reached, the company will be worth $327.60 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 93,236 shares traded hands. Banco Latinoamericano de Comerci Extr SA (NYSE:BLX) has risen 20.96% since March 16, 2016 and is uptrending. It has outperformed by 15.42% the S&P500.
According to Zacks Investment Research, “Banco Latinoamericano de Exportaciones, S.A. was established to finance the foreign trade of the countries in the Latin American and Caribbean region. The Bank focuses on short-term trade-related loans to borrowers who then loan the funds to various businesses and govermnent institutions involved in foreign trade.”
More news for Banco Latinoamericano de Comerci Extr SA (NYSE:BLX) were recently published by: Seekingalpha.com, which released: “Banco Latinoamericano De Comercio Exterior’s (BLX) CEO Rubens Amaral on Q2 …” on July 31, 2016. Prnewswire.com‘s article titled: “Bladex co-estructura un crÃ©dito A/B de US$60 millones a largo plazo para Banco …” and published on August 31, 2015 is yet another important article.
BLX Company Profile
Banco Latinoamericano de Comercio Exterior, S.A. (the Bank), incorporated on January 19, 1978, is a specialized multinational bank. The Bank is established to support the financing of trade and economic integration in Latin America and the Caribbean. The Firm operates in two divisions: Commercial and Treasury. The Bank has offices in Buenos Aires, Argentina; Mexico City and Monterrey, Mexico; Lima, Peru, and Bogota, Colombia. The Bank serves a range of sectors, including gas and oil (upstream, integrated and downstream), agribusiness, food processing and manufacturing. The Company’s services and products are categorized into three main areas: Financial Intermediation Business, Structuring and Syndications Business, and Treasury. The financial intermediation Business comprises trade and working capital. Trade consists of foreign trade products, such as short and medium term instruments that help drive the cross-border activity of various firms. Working Capital consist of structured credit and lending facilities for short and medium-term financing of supply chain, materials and equipment, and inventories, across a range of activity sectors. The syndication and structuring business offers financial solutions designed to meet clients’ needs, and provides access to structured funding for a base of financial institutions and companies in Latin America.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.