JPMorgan names Peruvian lender Credicorp top Andean bank pick

JPMorgan Chase & Co. upgraded Peruvian lender Credicorp to overweight on Wednesday and named the bank its top Andean pick for 2016. Credicorp, based in Lima, is the second-highest rated in the world in banking stock with a market value of over $500 million and is forecasted to gain 74 percent in U.S.-traded shares, according to analysts' average price targets. JPMorgan also praised the overall outlook for the Peruvian system as a promising emerging market.

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