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Goldman Sachs Thinks Fomento Economico Mexicano’s Stock is Going to Recover

Goldman Sachs analyst Thiago Bortoluci maintained a Buy rating on Fomento Economico Mexicano (FMXResearch Report) today and set a price target of $89.00. The company’s shares closed last Thursday at $61.10, close to its 52-week low of $58.73.

According to TipRanks.com, Bortoluci is ranked #3750 out of 7991 analysts.

Fomento Economico Mexicano has an analyst consensus of Moderate Buy, with a price target consensus of $79.75, implying a 33.6% upside from current levels. In a report issued on July 29, Barclays also maintained a Buy rating on the stock with a $78.00 price target.

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Fomento Economico Mexicano, S.A.B. de C.V., also known as FEMSA, is a soft drink bottler and convenience store operator. The company is the world’s largest bottler of Coca-Cola trademark beverages. It also operates small-box retail chain stores, retail service stations for fuels and drugstores. Additionally, the company produces and distributes commercial refrigeration equipment, plastic cases, weighing equipment, food processing, and preservation solutions.

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