Grupo Mexico price target raised to MXN 120 from MXN 118 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Grupo Mexico (GMBXF) to MXN 120 from MXN 118 and keeps an Equal Weight rating on the shares. The firm says decelerating global growth will pose challenges for mining stocks, particularly if China economic policy :remains modest and reactive.” Amid demand uncertainty, Morgan Stanley prefers base metal equities verses iron ore names on tighter supply outlooks, the analyst tells investors in a research note. It adjusted price targets in the Americas metals and mining group as part of a 2025 outlook.