Citi initiated coverage of Becle with a Buy rating and MXN 53 price target, citing a growing total addressable market for tequila, which is expanding faster than other alcoholic beverages. The firm also cites a strong presence in the U.S. market, where not only the popularity of tequila is increasing but the company also has a growing consumer for Cuervo’s strategic premium product innovations.
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Published first on TheFly