Shares of Intercorp Financial Services Inc. (IFS) surged 5.12% in the pre-market trading session on Thursday, following the company's strong fiscal fourth-quarter earnings results that exceeded Wall Street's expectations.
The Peruvian financial services firm reported Q4 2024 adjusted earnings per share of $1.14, comfortably beating analysts' consensus estimate of $0.94. While revenue dipped 3.9% year-over-year to $460.31 million, it still topped forecasts of $366 million. Net income for the quarter came in at $129.99 million.
The impressive quarterly performance prompted BofA Securities to raise its price target on Intercorp Financial to $40 from $36, reiterating a Buy rating on the stock. Analysts remain optimistic about the company's prospects, with all three recommendations being "Strong Buy" or "Buy".
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