Foreign Exchange Volatility Reduces Enel's Fair Value Estimate; Reports 2Q Results
We are lowering our fair value estimate for Enel Generacion Chile to $24 per share from $26 after incorporating foreign exchange volatility since our last update. We are reaffirming our narrow economic moat and stable moat trend ratings after the company recently reported EBITDA for the first six months of $501 million, down from $556 million from the same year-ago period.The 11% increase in EBITDA was mostly attributable to the addition of 1.2 GW of renewable generation, named GHP Chile, and r...
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