Femsa price target lowered to $132 from $134 at Citi

Citi lowered the firm’s price target on Femsa to $132 from $134 and keeps a Neutral rating on the shares. The firm is adjusting its model with assumption of a more stabilized performance for Oxxo amid normalizing same store sales while also trimming its consolidated EBITDA margin expectations on potential pressures from higher labor costs, the analyst tells investors in a research note.