Femsa price target raised to $160 from $130 at Barclays

Barclays raised the firm’s price target on Femsa to $160 from $130 and keeps an Overweight rating on the shares. The analyst expects improving consumer spending and stock performance for the Mexico consumer space in the first half of 2024. Historically, the group has performed better in election years, skewing towards discretionary, the analyst tells investors in a research note.