Asur price target raised to MXN 780 from MXN 660 at Scotiabank

Scotiabank raised the firm’s price target on Asur to MXN 780 from MXN 660 and keeps an Outperform rating on the shares. The firm remains optimistic on the Mexican Airports’ future performance, the analyst tells investors. Scotiabank remains bullish on Asur because new MDP tariffs should more than offset a decline in traffic, reduction of the technical assistance fee should help offset the increase of the concession fee, and the company’s healthy balance sheet supports long-term financial stability.