Banco de Chile downgraded to Sell from Neutral at Goldman Sachs

Goldman Sachs analyst Tito Labarta downgraded Banco de Chile (BCH) to Sell from Neutral with a price target of $36, up from $35. The stock’s valuation premium to its Latin American bank peers is near an all-time high despite the bank’s “relatively weak” growth outlook and potential decline in profitability, the analyst tells investors in a research note. Goldman expects Banco de Chile’s net interest margin to deteriorate in 2026 as inflation falls.