Becle downgraded to Sector Perform from Outperform at Scotiabank

Scotiabank analyst Felipe Ucros downgraded Becle to Sector Perform from Outperform. While the Latin American consumer is "still strong" and staples are "providing typical defensive attributes during the slowdown," foreign exchange impacts, commodities and production disruptions in Q1 "merit a review," says the firm, which adds that it is "taking profits on Cuervo."