Goldman Sachs analyst Thiago Bortoluci downgraded Alsea (ALSSF) to Sell from Neutral with a MXN 34.80 price target The firm’s analysis of over a decade of macroeconomic data and consumption patterns for more than 28,000 households confirms the cyclical nature of the quick-service restaurant and casual dining sectors in Mexico. It believes weaker activity growth in Mexico poses significant downside risks to Alsea’s recently issued guidance.
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