Deutsche Bank is upgrading Banco De Chile BCH and Santander Chile SAN to Hold, as the Chilean banks are now trading at 4.4x trailing book value, down from a peak of 5.5x reached in mid-September.
“While still at a significant premium to their peers, we think this is partially justified by continued strong ROAEs (DBe of 28% in 2011), the highest in the region,” Deutsche Bank writes.
“Furthermore, loan growth in 2011 should benefit from a strong economy and asset quality should remain under control.”
Banco De Chile currently trades at $85.16; Santander Chile trades at $91.58.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in