Morgan Stanley analyst Ricardo Alves upgraded Coca-Cola Femsa (KOF) to Overweight from Equal Weight with a price target of MXN 222, up from MXN 192. The firm sees a weak first half of 2025 for Mexico food and beverage names, but thinks that is backward looking, at this point, adding that it thinks Bottlers may navigate uncertainty well. Coca-Cola Femsa is perceived as a defensive name and its year-to-date underperfomance creates an opportunity, the analyst argues.
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