Santander Chile price target lowered to $29 from $30 at Goldman Sachs

Goldman Sachs analyst Tito Labarta lowered the firm’s price target on Santander Chile (BSAC) to $29 from $30 and keeps a Sell rating on the shares after its Q1 results. The firm notes that while higher inflation will boost net interest margins, the management noted potential for slower loan growth or asset quality pressure later in the year, the analyst tells investors in a research note. Goldman Sachs adds that the stock trades at a relative premium to peers with an expected decline in profitability.