Becle downgraded to Sector Perform from Outperform at Scotiabank

Scotiabank downgraded Becle (BCCLF) to Sector Perform from Outperform with a MXN 32 price target The firm’s tariff trading-call on Cuervo has “largely played out,” says the analyst, who now sees more attractive valuation-to-growth stories in the Latin American food and beverage space.