JPMorgan analyst Rodolfo Angele upgraded Ecopetrol (EC) to Neutral from Underweight with a $9.50 price target Colombia has experienced a de-risking trend, with significant capital inflows making it the best-performing Latin American market in January, rising by 21.2%, the analyst tells investors in a research note. The firm says Ecopetrol should be a key beneficiary of any inflows into Colombia. As such, JPMorgan sees a fair valuation at current share levels.
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