|Over a week ago|
OMA postpones Anual General Ordinary, Extraordinary Shareholders' Meeting » 08:3906/1806/18/20
Grupo Aeroportuario del…
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., known as OMA announces that given the prevailing conditions related to the SARS-CoV2 virus that do not guarantee the health of the participants at the Annual General Ordinary and the Extraordinary Shareholders' Meeting, which was scheduled to be held on June 19, 2020, the Meeting has been postponed. The new date of the Meeting will be duly informed on a timely manner.
OMA downgraded to Neutral from Buy at BofA » 09:5506/1006/10/20
BofA analyst Roberto…
BofA analyst Roberto Otero downgraded OMA to Neutral from Buy with a $50 price target. The analyst expects Puerto Rico's and Colombia's passenger traffic in 2021 to recovery faster than Mexico's. However, Mexican airports should be able to negotiate with authorities lower committed capital expenditures for 2020 and 2021 while maintaining current tariffs due to lower traffic growth expectations, Otero tells investors in a research note. Asur (ASR) is the analyst's only Buy rated name in the space.
OMA downgraded to Neutral from Buy at BofA » 09:3506/1006/10/20
BofA downgraded OMA to…
BofA downgraded OMA to Neutral from Buy.
|Over a month ago|
OMA reports May terminal passenger traffic down 93.5% from last year » 16:1106/0506/05/20
Mexican airport operator…
Mexican airport operator Grupo Aeroportuario del Centro Norte reports that terminal passenger traffic at its 13 airports decreased 93.5% in May 2020, as compared to May 2019. Domestic traffic decreased 93.1%, and international traffic decreased 96.4%.
OMA upgraded to Outperform from Neutral at Credit Suisse » 05:3105/2905/29/20
Credit Suisse analyst…
Credit Suisse analyst Alejandro Zamacona upgraded OMA to Outperform from Neutral with a MXN 140 price target.
OMA reports April traffic down 92.8% » 16:0205/0605/06/20
OMAreports that terminal…
OMAreports that terminal passenger traffic at its 13 airports decreased 92.8% in April, as compared to April 2019. Domestic traffic decreased 92.2%, and international traffic decreased 96.9%.
|Over a quarter ago|
OMA upgraded to Buy from Neutral at Goldman Sachs » 16:1704/0804/08/20
Goldman Sachs analyst…
Goldman Sachs analyst Bruno Amorim upgraded OMA to Buy from Neutral with a price target of $43, down from $55. After the recent selloff, shares of OMA are trading at a 51% discount to its historical average, Amorim tells investors in a research note. Further, regulation in Mexico implies airport fees being revised every five years, and lower long term traffic expectations could imply higher tariffs, thus protecting the company's long term cash flows, adds the analyst.
GAP Airports upgraded to Buy from Neutral at UBS » 05:4904/0804/08/20
PAC, ASR, OMAB
UBS analyst Rogerio…
UBS analyst Rogerio Araujo upgraded GAP Airports (PAC) to Buy from Neutral with a price target of MXN 212, down from MXN 263. The analyst says that while the timing of a recovery in share prices remains difficult to assess with the COVID-19 outbreak still uncertain, he is turning positive on Mexican airports based on fundamental value. The companies have strong liquidity positions to face the current challenges, and the potential traffic drop caused by COVID-19 should be limited, Araujo tells investors in a research note. Araujo also upgraded Asur (ASR) this morning to Buy and kept a Buy rating on (OMAB).
OMA reports March passenger traffic down 32.6% y/y » 17:5004/0604/06/20
Mexican airport operator…
Mexican airport operator Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., known as OMA, reports that terminal passenger traffic at its 13 airports decreased 32.6% in March 2020, as compared to March 2019. Domestic traffic decreased 31.3%, and international traffic decreased 40.4%.
Barclays double upgrades OMA, downgrades GAP Airports » 07:0003/3103/31/20
Barclays analyst Pablo…
Barclays analyst Pablo Monsivais double upgraded OMA (OMA) to Overweight from Underweight with a price target of MXN 100, down from MXN 147. The analyst also downgraded GAP Airports (PAC) to Equal Weight from Overweight with a price target of MXN 172, down from MXN 258. The extraordinary COVID-19 outbreak has placed the Mexican Airports industry under considerable stress, and international and leisure traffic will be the most affected in the short and medium term, Monsivais tells investors in a research note. However, Mexican airport operators are well capitalized with strong balance sheets to face this challenging period, says the analyst. upside. The fact that OMA will negotiate with the Mexican government a new Master Development Plan this year should be a "major positive," contends Monsivais. Further, the analyst believes MA's lower exposure to tourism destinations and international traffic is also a positive. On the other hand, he sees "major challenges" ahead for GAP given its high exposure to the leisure market.