Goldman Sachs analyst Bruno Amorim upgraded GAP Airports to Buy from Neutral with a price target of $175, up from $135. The analyst is taking a more bullish stance on the Mexico airport sector, citing the “de-risking” seen in prior months on the regulatory side coupled with a view that investors are too conservative on the prospects of a traffic recovery in 2025. GAP Airports is a structural growth story with a challenging short term being at least partially priced in, the analyst tells investors in a research note. The firm sees an “undemanding” valuation on its estimates and the easing of regulatory risk.
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Read More on PAC:
- GAP Airports price target lowered to $164 from $171 at Citi
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- GAP Airports reports passenger traffic up 2.2% in December
- Grupo Aeroportuario del Pacifico Reports in December 2023 a Passenger Traffic Increase of 2.2% Compared to 2022
