Inversiones Argos Price Set at 23,500 Pesos by Bolsa y Renta

Inversiones Argos SA, the owner of Colombia’s biggest cement company, was given a 2012 year-end target price of 23,500 pesos by brokerage Bolsa y Renta.

The company’s absorption of assets not related to cement production in a spinoff by its Cementos Argos unit has turned Inversiones Argos into a “diversified holding” with exposure to Colombia’s infrastructure sector, according to an e-mailed report by analysts including Carlos Eduardo Gonzalez. The brokerage maintained its “buy” recommendation for the company.