JPMorgan downgraded Intercorp Financial to Neutral from Overweight with an unchanged price target of $56. The firm sees a balanced risk/reward at current share levels. JPMorgan prefers to wait for clarity around Peru's political transition before again recommending the stock. Peru's outlook remains positive, but Intercorp and Credicorp have already rebounded meaningfully, the analyst tells investors in a research note. The firm downgraded both names to Neutral.
