Fibra Prologis upgraded to Outperform from Sector Perform at Scotiabank

Scotiabank upgraded Fibra Prologis to Outperform from Sector Perform with an unchanged price target of MXN 76. The analyst cites the recent pullback in the shares for the upgrade. In the aftermath of Mexico’s elections, and a higher-for-longer yield environment, companies like Fibra Prologis should benefit, the analyst tells investors in a research note. The firm highlights the company’s “bullet-proof” balance sheet, no refinancing risks, its financial flexibility to fund acquisitions, and what is the lowest funding cost.