Morgan Stanley Upgrades Femsa - Read Why

  • Morgan Stanley analyst Ricardo Alves upgraded Femsa or Fomento Economico Mexicano SAB De CV FMX to Overweight from Equal Weight with a price target of $92, up from $90 (23% upside).
  • Alves calls his change in rating "mostly a valuation call" as he thinks overall fundamentals have not changed significantly over the past few months but Femsa local shares are down about 7% this month.
  • Alves also cites Mexico consumption momentum as he sees its core, OXXO, already delivering above pre-pandemic sales over the coming months.
  • Recently, Barclays analyst Benjamin Theurer upgraded Femsa to Overweight from Equal Weight with an unchanged price target of $90.
  • The analyst sees an "increasingly favorable" outlook for the company that is not reflected in the share price.
  • Price Action: FMX shares are trading higher by 0.59% at $74.69 on the last check Wednesday.
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