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Wal-Mart de Mexico downgraded to Sector Perform from Outperform at Scotiabank

Scotiabank downgraded Wal-Mart de Mexico to Sector Perform from Outperform with an MXN 85 price target. Walmex delivered sequentially lower growth in online sales in every quarter during 2022, the analyst tells investors in a research note. The firm now prefers Femsa as its top pick in the sector.

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