Citi analyst Andre Mazini upgraded Fibra Macquarie Mexico to Buy from Neutral with a MXN 33 price target. The analyst sees nearshoring being a multi-decade story in Mexico, with Fibra and the real estate sector as the best way to play it. Companies are aiming for shorter and resilient supply chains while eschewing geopolitical risks, making Mexico a prime production location for manufacturing catering to the North American market, Mazini tells investors in a research note.
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