Deutsche Bank Upgrades Grupo Aeroportuario del Pacifico (PAC) to Buy
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Deutsche Bank upgrades Grupo Aeroportuario del Pacifico (NYSE: PAC) from Hold to Buy as traffic deceleration and regulatory risk are more than fully reflected in the stock price.
The firm said, "PAC's shares have declined 25% YTD (and 25% QTD) due primarily, in our view, to concerns about passenger traffic growth deceleration and increased regulatory risk associated with a 5-year tariff review process presently underway. While these concerns have also underpinned our previously cautious stance towards PAC, we now believe risks are more than fully discounted in the shares."
Grupo Aeroportuario del Pacifico engages in the operation, maintenance, and development of airports in the Pacific and central regions of Mexico.
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