Asur downgraded to Neutral from Overweight at JPMorgan

JPMorgan downgraded Asur (ASR) to Neutral from Overweight with a price target of MXN 670, down from MXN 705. The firm is citing the lack of near-term catalysts and subdued traffic momentum in Mexico, notin that over the past twelve months, ASUR’s Mexican traffic declined by 3% while its peers experienced single-digit growth, the analyst tells investors in a research note.