Grupo Bimbo downgraded to Neutral from Overweight at JPMorgan

JPMorgan analyst Lucas Ferreira downgraded Grupo Bimbo to Neutral from Overweight with a price target of MXN 65, down from MXN 74. The company’s weaker than expected results in Q1, underscore limited visibility on profitability ahead, especially in the U.S., the analyst tells investors in a research note.