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Investing.com - JPMorgan upgraded Empresa Nacional de Telecomunicaciones SA (ENTEL:CI) from Underweight to Neutral and raised its price target to CLP3,100.00 from CLP2,700.00.
The upgrade reflects JPMorgan’s view of a "rising likelihood of more benign competitive landscape in Chile due to potential consolidation," which could translate into 120% upside potential for Entel shares.
JPMorgan acknowledged that market consolidation faces a lengthy process, including "tough antitrust approval," but noted that progress toward consolidation would serve as "a positive trigger" for the stock.
The firm updated its estimates following Entel’s second-quarter 2025 results, making "limited changes" and establishing a December 2026 price target of CLP3,100, compared to its previous December 2025 target of CLP2,700.
JPMorgan indicated it continues to favor other Latin American telecommunications companies, specifically naming Tigo, Megacable, and Tim as Overweight-rated stocks in the sector.
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