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.