Yes, it is ALABANZA or LOA or ELOGIO. Alabanza (act of ALABAR) is used in a religious sense, as well as LOA. Elogio is an expression of appreciation that can be used in more mundane things. It is always used to define the nature of a phrase or speech, but never directly as "Yo te elogio" = "I praise on you" .That's the contrary of what I'll now receive from the "consciences" of the Mudcat ! HA !
Un abrazo - Andrés