GAP Airports price target lowered to MXN 310 from MXN 341 at Scotiabank

Scotiabank analyst Francisco Suarez lowered the firm’s price target on GAP Airports to MXN 310 from MXN 341 and keeps an Outperform rating on the shares. After a volatile 2023 for Mexican airports, the market’s fears appear to be fading, and the firm sees more value at current prices, the analyst tells investors. With the spreads between internal rates of return, IRRs, and benchmark ratings widening, there is more value to be unlocked, and the risk-reward balance for bondholders and equity holders looks positive, the firm adds. The firm names GAP Airports as one of its top-picks.