PriceSmart initiated with a Buy at Jefferies

Jefferies initiated coverage of PriceSmart with a Buy rating and $82 price target. The firm initiated on 18 consumer companies in Latin America across food and beverage, food retail, apparel retail, footwear, sports retail and fitness, and specialized retail, citing a preference for “consistent compounders,” leveraged players into rates cycle and one turnaround play. PriceSmart, the largest operator of membership warehouse clubs in Central America, the Caribbean, and Colombia, has proven to be a consistent compounder and the firm believes growth will remain “robust,” the analyst tells investors.