Santander Chile upgraded to Buy from Underperform at BofA

BofA analyst Ernesto Gabilondo upgraded Santander Chile to Buy from Underperform with a price target of $20, down from $22. While the firm’s lower price target mainly reflects new earnings estimates, the firm double upgraded the shares on the view that the “worst is behind” and that earnings are poised to inflect next quarter and that NIMs should start to benefit from lower rates.