JPMorgan upgraded Santander Chile (BSAC) to Overweight from Neutral with a price target of $40, up from $38. The firm upgraded Santander Chile and downgraded Itau Chile to better reflect higher inflation in the country. Higher inflation matters for the Chilean banks, both on net interest oncome and lower effective tax rates, the analyst tells investors in a research note. JPMorgan increased its earnings estimates for Santander Chile estimates by 7% for 2026.
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