Embotelladora Andina upgraded at Scotiabank on Coke Bottler bullishness

As previously reported, Scotiabank analyst Felipe Ucros upgraded Embotelladora Andina to Outperform from Sector Perform with a CLP 3,100 price target. The firm is upgrading its sector view on LatAm Bottlers as it argues that after Q4 conference calls, “two things became evident.” Namely, the Bottlers were the only subsector to raise prices across regions with inflation and Bottlers were the only subsector where volume trends were unscathed, calling the sum of those two factors “unique in LatAm Staples.”