Goldman Sachs Starts Endesa Chile (EOC) at Neutral; Growth Profile Fully Priced In

Goldman Sachs initiates coverage on Endesa Chile (NYSE: EOC) with a Neutral. PT $63.00.

Goldman analyst, said, "Despite Endesa Chile’s (1) above average 3.8% dividend yield 2012-15 (vs. its Chilean peers’ 3.3% average dividends), (2) compelling 2012-15 FCF CAGR of 14.2% (a combination between new capacity, lower capex
and better hydrology), and (3) experienced management team, our Neutral rating for Endesa Chile reflects (1) growth profile fully priced at current levels with FCF yields coming from 4.8% in 2012 to 7.2% in 2015, and (2) its relatively unattractive valuations vs. peer Enersis."

For an analyst ratings summary and ratings history on Endesa Chile click here. For more ratings news on Endesa Chile click here.

Shares of Endesa Chile closed at $54.00 yesterday.

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