Thursday, October 18, 2007

Endesa Chile Profits Rolling In - Upgraded to "Outperform"

LONDON, October 18 ( - Analysts at Bear Stearns upgrade Endesa Chile from "peer perform" to "outperform." The target price is set to $50.

In a research note published this morning, the analysts mention that the "node" tariff has been raised by 12.9% to $104.05/MWh, significantly ahead of expectations, and the new tariff will be implemented with effect from November. The company is poised to benefit going forward from the tariff hike, since approximately 50% of its total volume sales in Chile are at regulated node tariffs, the analysts say.

Here is the full story.