HSBC analyst Carlos Laboy raised the firm’s price target on Femsa to $77 from $58 and keeps a Reduce rating on the shares. The company’s "conglomerate board deploys capital poorly and still puts divisional control ahead of value creation and growth," the analyst tells investors in a research note. The firm believes the Heineken share sale announcement "has some good news" but does not fix Femsa’s "root problems."
Published first on TheFly
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- FEMSA ANNOUNCES IN CONNECTION WITH TENDER OFFERS
- FEMSA announces the pricing of the offering of shares of Heineken N.V. and Heineken Holding N.V. and the concurrent offering of exchangeable bonds exchangeable into shares of Heineken Holding N.V.
- Femsa announces offering of EUR 3B Heineken shares
- FEMSA announces an offering of shares of Heineken N.V. and Heineken Holding N.V. and a concurrent offering of exchangeable bonds exchangeable into shares of Heineken Holding N.V.
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