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JimVanMeerten (63.33)

Add some Latin spice to your portfolio

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August 12, 2010 – Comments (0) | RELATED TICKERS: GGAL

On Barchart Portfolio Blogs I bring to your attention stocks you might want to consider for your portfolio.

I'm adding a little Latin flavor to the Barchart Van Meerten Speculative portfolio with the addition of the Argentine bank Grupo Financiero Galicia SA. (GGAL) They are involved in the Financial Services Industry and their principal activity is to continue to be a financial and investment services holding company and to fulfill the banking services activities of Banco Galicia in Argentina. They have 238 full service branches, 620 ATMS and 754 self service terminals throughout the country.

Wall Street brokerage analysts think the company will increase earning per share by 10.00% this year, 50.90% next year and continue a 5 year compounded EPS growth rate of 7.00%.

The stock's price has been out performing most of the US based financial stocks with 11 new highs in the last 20 sessions including 4 of the last 5. The past month has produced a 20.61% price increase. Barchart has a 100% technical buy with all 13 of their indicators signaling a buy. The stock has a rising Relative Strength Index of 74.74% and trades around 7.65 well above its 50 day moving average of 6.25.

The general investing public thinks this stock will outperform the market with the CAPS members on Motley Fool voting 25 to 19 that the stock will beat the market with the All Stars in agreement 12 to 7.

If you need a strong foreign bank stock in your portfolio consider these points about GGAL:

1 - Wall Street brokerage firms think this stock will have increasing earnings for the next 5 years

 2 - Investor sentiment is positive

3 -  The stock has current and constituent upward price momentum

Jim Van Meerten is an investor who writes on investing here and on Barchart Portfolio Blogs. Please leave a comment below or email JimVanMeerten@gmail.com.

Disclosure: No positions in the stock mentioned at the time of publication

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