Enel Chile price target lowered to $3.90 from $4.40 at Scotiabank

Scotiabank lowered the firm’s price target on Enel Chile (ENIC) to $3.90 from $4.40 and keeps an Outperform rating on the shares. The firm is updating its model to reflect the company’s strong Q3 results, the analyst tells investors. The stock has underperformed year-to-date despite the company’s recent strong results and the firm expects Enel Chile to continue delivering good margins. Cheap valuation as well as an attractive dividend yield and lower level of debt should be triggers for stock appreciation.