Wal-Mart de Mexico downgraded to Equal Weight from Overweight at Barclays

Barclays downgraded Wal-Mart de Mexico to Equal Weight from Overweight with a price target of MXN 75, up from MXN 74. The analyst expects improving consumer spending and stock performance for the Mexico consumer space in the first half of 2024. Historically, the group has performed better in election years, skewing towards discretionary, the analyst tells investors in a research note.