Operadora de Sites Mexicanos downgraded to Underperform at Scotiabank

Scotiabank downgraded Operadora de Sites Mexicanos (OPMXF) to Underperform from Sector Perform with an unchanged price target of MXN 15.50. The firm “thought there was a trading opportunity when the stock fell to MXN 8.87/share,” but it sees it as “a short at MXN 18.91/share,” the analyst tells investors. While it is “not unreasonable” to see Opsimex as a “risk-off” tower story, even sovereign bonds pay a higher yield, the analyst added.