Alfa SAB upgraded to Outperform from Sector Perform at Scotiabank

Scotiabank upgraded Alfa SAB to Outperform from Sector Perform with a price target of MXN 18.50, up from MXN 17. The company’s strategy will effectively transform Alfa into Sigma and reduce Alfa’s portfolio from an industrial conglomerate to a processed food company, the analyst tells investors in a research note.