NEW YORK (TheStreet) -- YPF (YPF), Telecom Argentina (TEO), Banco Macro (BMA), Grupo Financiero Galicia (GGAL), BBVA Banco Frances (BFR), Banco Latinoamericano de Comercio Exterior (BLX) and Credicorp (BAP) are stocks from the frontier markets with potential upside ranging from 10% to 90%, based on analysts' average 12-month price targets. These stocks have 55% buy ratings, as polled by Bloomberg.
We have identified these seven frontier market stocks that could deliver a median return of 48% over the next one year with estimated earnings growth rate of 16% to 20%. These stocks have outperformed the Dow index and the portfolio returned 36% during the last one year, compared to 20% by the Dow.
7. Telecom Argentina (TEO) is one of Argentina's leading telecommunication service providers.
Results for the March 2011 quarter were impressive with net revenue up 27% to $950 million from the year-ago quarter, fuelled by its mobile and broadband businesses. During the March quarter, new mobile subscriptions grew 13% in Argentina with a 16% increase in mobile ARPU (average revenue per user), compared to the same period in 2010.
Net profit rose 53% year-over-year due to higher operating profit before depreciation and amortization (OPBDA) and lower financial charges. Net cash generation was higher -- net cash position at the end of 2011 March stood at $400 million, increasing $200 million from the same period of last year.OPBDA margin was 32% with operating margin at 24%. The stock is expected to deliver an upside of 10% in the next one year.
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