Orbia Advance downgraded to Sector Perform from Outperform at Scotiabank

Scotiabank downgraded Orbia Advance to Sector Perform from Outperform with a MXN 47 price target after overall EBITDA fell “far short” of expectations, with sequential margin compression in most segments. Infrastructure and construction markets continue to be challenged by high interest rates and the core PVC business continues to face challenges, the analyst tells investors in a post-earnings note.