Resumed Buy X

GGAL Grupo Financiero Galicia

HSBC Securities

$60

Initiated Outperform X

GGAL Grupo Financiero Galicia

Itau BBA

$70

Upgrades Underweight Overweight X

GGAL Grupo Financiero Galicia

Morgan Stanley

$92

Upgrades Underweight Overweight X

GGAL Grupo Financiero Galicia

JP Morgan

$54

Upgrades Underperform Buy X

GGAL Grupo Financiero Galicia

BofA Securities

$28 $36

Upgrades Underweight Neutral X

GGAL Grupo Financiero Galicia

JP Morgan

Upgrades Neutral Outperform X

GGAL Grupo Financiero Galicia

Credit Suisse

Downgrades Neutral Underweight X

GGAL Grupo Financiero Galicia

JP Morgan

Downgrades Neutral Underperform X

GGAL Grupo Financiero Galicia

BofA/Merrill

Downgrades Buy Neutral X

GGAL Grupo Financiero Galicia

BofA/Merrill

Downgrades Buy Neutral X

GGAL Grupo Financiero Galicia

Citigroup

GGAL  Grupo Financiero Galicia S.A. - ADS, Class B Shares underlying

Grupo Financiero Galicia SA (Grupo Financiero Galicia) is a financial services holding company. The Company's segments include Banking, Regional Credit Cards, CFA, Insurance and Other Grupo Galicia Businesses. Banco de Galicia y Buenos Aires SA (Banco Galicia) is a subsidiary of the Company. Its banking business segment represents Banco Galicia consolidated line by line with Banco Galicia Uruguay SA (Galicia Uruguay). It operates the regional credit cards segment through Tarjetas Regionales SA and its subsidiaries. Its CFA business segment extends unsecured personal loans to low and middle-income segments of the Argentine population. The Company operates the insurance segment through Sudamericana Holding SA and its subsidiaries. Its Other Grupo Galicia Businesses segment includes the results of Galicia Warrants SA, Galicia Administradora de Fondos SA Sociedad Gerente de Fondos Comunes de Inversion and Net Investment SA