Citi upgraded Femsa (FMX) to Buy from Neutral with a price target of $97, up from $93. The shares are already pricing in headwinds to the company’s convenience store brand Oxxo while its returns to shareholders shield the stock from further downside, the analyst tells investors in a research note.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FMX:
- FEMSA to Fully Control OXXO Stores in Brazil After Ending Joint Venture
- Femsa agrees to terminate joint venture with Raizen in Brazil
- Palo Alto upgraded, Li Auto downgraded: Wall Street’s top analyst calls
- Femsa downgraded to Equal Weight from Overweight at Morgan Stanley
- FEMSA Supports BradyPLUS and Imperial Dade Merger