JPMorgan initiated coverage of Corporacion America Airport (CAAP) with an Overweight rating and $22.50 price target implying 25% upside potential. The firm sees an attractive valuation, noting the shares at a discount to peers and nearly in line with pre-Milei levels despite the Argentina re-rate. Corporacion America has “robust and sustainable” free cash flow generation, and ongoing regulatory discussions could contribute more than 30% upside to the stock’s fair value, the analyst tells investors in a research note.
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