Asur downgraded to Equal Weight from Overweight at Barclays

Barclays analyst Pablo Monsivais downgraded Asur to Equal Weight from Overweight with a price target of MXN 511, down from MXN 556. The analyst changed the firms valuation methodology for Asur to a sum-of-the-parts for each concession, which yields 3% potential upside to the current share price. A sum-of-the-parts approach better reflects the key features of each concession’s regulatory model, the analyst tells investors in a research note.