Gruma downgraded to Underweight from Overweight at Barclays

Barclays downgraded Gruma (GPAGF) to Underweight from Overweight with a price target of MXN 320, down from MXN 380. The firm adjusted ratings in the Mexico consumer sector as part of its 2026 outlook. The group is moving into next year with “steady fundamentals but slower growth” along with elevated trade uncertainty, the analyst tells investors in a research note. Barclays believes companies with scale, strong revenue management, and omnichannel depth are best positioned.