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Grupo Bimbo downgraded to Sector Perform from Outperform at Scotiabank

Scotiabank analyst Felipe Ucros downgraded Grupo Bimbo to Sector Perform from Outperform with a MXN 108 price target. The firm is downgrading the stock and removing it from the list of beneficiaries of its reduction in raw materials’ thesis following the company’s guidance and commentary, the analyst tells investors in a post-earnings note.

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