🔴 Grupo Financiero Galicia is trading 10% down on regional contagion concerns after Lula’s Brazil win

Grupo Financiero Galicia is trading 10.42% down at $33.96, amid regional pressure after Luiz Inácio Lula da Silva’s election victory in Brazil prompted contagion concerns.

• On October 26, Argentine-listed ADRs faced pressure; premarket reports included Grupo Financiero Galicia among the decliners.
• UBS cut its price target to US$45 from US$60, while Itaú BBA moved to Market Perform from Outperform. Coverage does not confirm these revisions as the direct cause of the sharp intraday drop.