Bradesco BBI downgraded Femsa to Neutral from Outperform with a price target of $100, up from $90. After the stock rally, the analyst sees the risk/reward as balanced. Femsa already sold half of its 15% stake in Heineken, but the proposed timeline of 2-3 years to fully divest the stake suggests the second tranche could be far away, the analyst tells investors in a research note.
Published first on TheFly
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