HSBC analyst Cenk Orcan upgraded OMA (OMAB) to Buy from Hold with a price target of $134, up from $112. The firm says the company’s domestic Mexico exposure and nearshoring tailwinds position it more resiliently amid higher fuel prices. HSBC remains constructive on long-term fundamentals of the Mexican airports, citing commercial revenue growth and acquisitions optionality. However, it believes near-term visibility is constrained by fare-driven demand risks. HSBC likes OMA for its “relative defensiveness.”
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