Jefferies Upgrades Irsa Inversiones y Rprsntcins SA (IRS) to Buy

Jefferies analyst Pedro Baptista upgraded Irsa Inversiones y Rprsntcins SA (NYSE: IRS) from Hold to Buy with a price target of $13.00 (from $10.50).

The analyst comments "We see the outlook for Argentina’s real estate player Irsa & parent Cresud improving near term, as Costa Urbana project (Irsa’s main NAV swing factor) approaches development launch. In addition, Argentina’s economic activity shows green shoots which should gradually improve Irsa’s shopping mall revs and Cresud should benefit from a potential easing of agricultural export taxes. We reiterate Buy on Cresud & upgrade Irsa to Buy, US$13.0 PT."

For an analyst ratings summary and ratings history on Irsa Inversiones y Rprsntcins SA click here. For more ratings news on Irsa Inversiones y Rprsntcins SA click here.

Shares of Irsa Inversiones y Rprsntcins SA closed at $10.07 yesterday.

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