UPDATE: Credit Suisse Upgrades Bancolombia SA as Valuation Seems Attractive

In a report published Friday, Credit Suisse analyst Marcelo Telles upgraded the rating on Bancolombia SA (NYSE: CIB ) from Neutral to Outperform, but lowered the price target from $69.00 to $61.00. In the report, Credit Suisse noted, “Following our multi-year negative stance on Bancolombia, we decided to raise CIB