We select BMA, a provider of financial services to consumers and small business in Argentina as a TOP PICK. Recently reported earnings showed a 290% increase in net income and a 17% increase in loans. It trades at 6x earnings, 1.4x book and supports a robust ROE of 39%. Its dividend is backed by a payout ratio under 30% of cash flow. We recommend setting a stop-loss at $61, looking to achieve $105 — upside potential of 28%. Yield 8.5%
Our PAST TOP PICK with BMA has triggered its stop at $61. To remain disciplined, we recommend covering the position at this time.