Edenor reinstated with a Buy at BofA

BofA analyst Gustavo Faria reinstated coverage of Edenor with a Buy rating and $22 price target. As the largest power distributor in Argentina, Edenor has faced the most volatility within Argentina utilities given unattractive regulation tariffs in recent years, but the firm sees a de-risking of the stock given a better regulatory framework and believes Edenor could benefit from a positive tariff review in 2024, the analyst tells investors.