NEW YORK (TheStreet) -- IRSA Investments & Representations SA (IRS) had coverage initiated on its shares with an "overweight" rating by Morgan Stanley (MS) on Monday. The firm set a $16 price target for the company.
IRSA Investments & Representations was up 2.3% to $11.49 in early trading Monday.
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Analysts at Morgan Stanley see an investment in IRSA as an investment in the Argentinian real estate market.
"We believe that an investment in IRSA would allow investors access to some of Argentina's highest quality real estate, most of which is based on malls, which under a normalized macro regime would trade at a meaningful premium to current values," Morgan Stanley said.
TheStreet Ratings team rates IRSA INVERSIONES Y REPSTN SA as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate IRSA INVERSIONES Y REPSTN SA (IRS) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its good cash flow from operations, expanding profit margins and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and generally higher debt management risk."