Salfacorp Rises to Record in Chile as Celfin Says Buy
Salfacorp SA rose to a record in Santiago trading after Celfin Capital give Chile’s largest engineering and construction company a new “buy” rating.
Salfacorp climbed 4.5 percent to 1,779.9 pesos, the highest level since trading began in October 2004.
The shares may reach 1,980 pesos as the country’s real- estate and construction industries recover, Alex Sadzawka, an analyst at Celfin, wrote in an e-mailed note.
“We expect it to deliver above-market growth rates and ride the wave of new investments in energy and mining, currently the main drivers for Chile’s construction sector,” he wrote.
To contact the editor responsible for this story: James Attwood at email@example.com