Acciones Peruanas son "caras"

`Expensive' Peruvian Stocks Downgraded by Citigroup's Dennis
By Roger Neill

July 18 (Bloomberg) -- Citigroup Inc. said investors should sell Peruvian stocks because the shares have grown expensive, and raised its recommendation on equities in Columbia to ``neutral.''
Geoffrey Dennis, Citigroup's New York-based Latin America equity strategist, cut his allocation for ``expensive'' Peru to ``underweight.'' according to a note to clients dated July 14. He maintained an ``overweight'' rating on Brazil.
Peru's benchmark Lima General Index, trades at 12.8 times its companies' average earnings, up from a ratio of 9.9 at the end of June, weekly data compiled by Bloomberg show. Brazil's Bovespa Index is valued at 13.9 times its companies' profit, down from 14.9 at the end of June, Bloomberg weekly data show.
Dennis also upgraded ``underperforming'' Colombia, where the benchmark IGBC General Index lost 18 percent in 2008.
To contact the reporters for this story: Roger Neill in London at Rneill3@bloomberg.net Last Updated: July 18, 2008 05:21 EDT