Scotiabank analyst Francisco Suarez downgraded Fibra Prologis (FBBPF) to Sector Perform from Outperform with a price target of MXN 72, down from MXN 77. The firm adjusted ratings in Mexican real estate, saying that if industrial real estate faces steeper yield curves, and “muted” rent growth opportunities for companies in the long term, it sees little probability of cap rate compression.
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