Equatorial Energia upgraded to Outperform from Sector Perform at Scotiabank

Scotiabank upgraded Equatorial Energia to Outperform from Sector Perform with a price target of R$40.50, up from R$40. The price offered by Equatorial Energia of R$67 per share in Sabesp’s privatization, if successful, could represent an increase of R$3-R$4 per share in Equatorial Energia’s target price, the analyst tells investors.