UPDATE: Goldman Sachs Downgrades Grupo Aeroportuario del Pacifico (PAC) to Neutral (correction)

Goldman Sachs analyst Bruno Amorim downgraded Grupo Aeroportuario del Pacifico (NYSE: PAC) from Neutral to Buy with a price target of $106.00 (from $120.00).

The analyst comments "Downgrading GAP to Neutral from Buy as we see a tight valuation (10% IRR vs 10% cost of equity) and a slower than previously expected recovery in traffic in the domestic market. We now expect traffic in GAP’s Mexican operations to recover past 2019 levels in 2023E (vs 2022E previously)."

For an analyst ratings summary and ratings history on Grupo Aeroportuario del Pacifico click here. For more ratings news on Grupo Aeroportuario del Pacifico click here.

Shares of Grupo Aeroportuario del Pacifico closed at $109.99 yesterday.

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