Citi downgraded GAP Airports (PAC) to Neutral from Buy with a price target of MXN 480, up from MXN 460. The firm noted it downgraded the stock following a 24% rally from October lows, and adjusted downward its Q4/2026 earnings forecast as it has a better understanding of Jamaica traffic implications outlook after the December traffic report. A potential overhang remains in place as the issuance of 90M class B sharers to the strategic shareholders will be subject to a 365-day lock-up period, the analyst tells investors in a research note.
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