Morgan Stanley Lowered Its 2011, 2012 EPS Estimates For Bancolombia, Maintained Its UW Rating (CIB)

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Fuente: Financial News Network.

Morgan Stanley lowered its 2011 and 2012 EPS estimates for Bancolombia (NYSE:CIB) and maintained its underweight rating on the stock.

The bank sees 2011 EPS of $4.23, down from $4.53 per share, and 2012 EPS of $4.83, down from $5.47 per share.

BanColombia has a potential upside of 2.6% based on a current price of $64.71 and an average consensus analyst price target of $66.41.

BanColombia should find initial support at its 50-day moving average (MA) of $62.67 and further support at its 200-day MA of $61.79.

In the last five trading sessions, the 50-day MA has climbed 1.17% while the 200-day MA has risen 0.17%.

Bancolombia S.A. attracts deposits and offers retail and commercial banking services. The Bank offers automobile, personal, and education loans, credit and debit cards, securities brokerage services, fund transfers, lease and foreign trade financing, insurance, and pension funds. Bancolombia and its subsidiaries serve Colombia, Panama, Cayman Islands, Puerto Rico, El Salvador, and Miami.