Enel Americas Reports Strong 1Q; Recovery Continues in South American Economies
We are increasing our fair value estimate to $10 per ADR from $9 after Enel Americas reported strong first-quarter 2018 earnings of $0.19 per ADR versus $0.06 per ADR in the year-ago period. The increase in our fair value estimate is also driven by the continuing recovery in the South American economies where Enel Americas does businesses and time-value appreciation.First-quarter EBITDA was $820 million, 26% higher than last year, giving us increased confidence in our full-year estimated EBITDA...
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