Citi analyst Rena Cabral initiated coverage of Grupo Comercial Chedraui with a Neutral rating and MXN 113 price target. The analyst initiated coverage of the Mexico retailers with Walmex as the top pick, followed by Kimberly Clark Mexico. The firm believes the consumer scenario in Mexico will remain favorable in 2024 as the benefits of real wage growth and the forecasted cut in interest rates will help shield consumers from decreases in purchasing power.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on GCHEF: