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.
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