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Fly News Breaks for August 22, 2016
CIB
Aug 22, 2016 | 05:52 EDT
Deutsche Bank analyst Tito Labarta upgraded Bancolombia to Buy with a $47 price target saying NIM expanded much more than expected and asset quality remained under control, giving him increased confidence that the bank can improve profitability despite a weak economy. Labarta said management's increased focus on profitability should allow earnings to grow at a modest pace of 5% this year and 11% next.
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