InRetail Peru initiated with a Sector Perform at Scotiabank

Scotiabank initiated coverage of InRetail Peru with a Sector Perform rating and $35 price target. The company is an exclusively Peruvian retailer with significant exposure to the pharma segment, the analyst tells investors in a research note. The firm like sInRetail’s growth prospects in Peru, but believes the stock’s limited liquidity restricts its fundamental drivers from being properly reflected in its valuation.