Franco Uccelli of Wall Street’s Bear Stearns brokerage firm wrote yesterday that the PLD primary results would pave the way for Fernandez to start actively campaigning for re-election. “While not necessarily a shoo-in, we expect Fernandez to quickly become the race favorite and to consolidate his position as the candidate to beat,” writes Uccelli. The analyst comments that he views “Fernandez’s progress towards re-election and his ultimate victory next year (our base case scenario) as positive for the credit.”