Embotelladora Andina upgraded to Neutral from Underperform at BofA

BofA upgraded Embotelladora Andina (AKO.A) to Neutral from Underperform with a price target of $19.30, up from $12.50. The firm expects a better sales recovery at Andina than at CCU (CCU), which the firm has downgraded to Underperform as it shifts its preference in Latin American Beverages. The firm expects Andina’s top line to grow on average by 9% in 2024-25 due to strong demand in Brazil and Paraguay as well as a recovery in Chile, the analyst tells investors.