BBVA Banco Frances S.A. (ADR) (NYSE:BFR)

CAPS Rating: 2 out of 5

A private commercial bank organized in the Republic of Argentina which provides general banking services to corporate and retail customers including accepting deposits and granting loans.

Recs

2
Player Avatar vladdfool (76.61) Submitted: 12/29/2007 5:04:17 PM : Outperform Start Price: $6.44 BFR Score: +61.91

Bet on Argentine economic recovery as compared to the US dollar. Turnaround Latin America play.

Earnings growth better than peers (86% vs 12%), yet priced cheaper (Price/Sales 1.25 vs 1.82). P/E/G of 0.79 and price/book of 1.9, but substantially lower than peers.

Reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. Has demonstrated a pattern of positive earnings per share growth over the past two years- trend should continue; suggests that the performance of the business is improving. During the past fiscal year, increased
its bottom line by earning $0.37 versus $0.26 in the prior year. This year, the market expects an improvement in
earnings ($0.43 versus $0.37). The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Commercial Banks industry. The net income increased by 81.4% when compared to the same quarter one year prior, rising from $14.85 million to $26.94 million.

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