UPDATE: Goldman Sachs Downgrades Grupo Aeroportuario Del Sureste (ASR) to Sell
- Wall Street ends volatile week sharply higher
- AT&T (T) in Talks to Merge Media Assets with Discovery (DISCA) - WSJ
- Disney (DIS) Dips As Streaming Business Shows Signs of Slowing Down, Analysts 'Very Bullish' on LT Opportunity
- Airbnb (ABNB) Bookings Up 52% to Help Sales Beat, Seen as a 'Blow Out Quarter' as More Upside is Left
- DoorDash (DASH) Reports Bigger Loss and a Sales Beat, Shares Soars on Strong Guidance and Two Upgrades to 'Buy'
Goldman Sachs analyst Bruno Amorim downgraded Grupo Aeroportuario Del Sureste (NYSE: ASR) from Neutral to Sell with a price target of $165.00 (from $135.00).
The analyst comments "Downgrading ASUR to Sell from Neutral as, even though we view it as a solid and well run business: i) on our estimates ASUR’s valuation is expensive at 8% IRR vs 10-11% for GAP and OMA and vs our cost of equity estimate of 10%; and ii) ASUR’s regulated revenues represented ~63% of its consolidated 2019 revenues (vs 76% and 74% for OMA and GAP, respectively), therefore, under a scenario of traffic downturn, the company would be less protected vis-a-vis OMA and GAP. We have incorporated in our estimates the extraordinary tariff and capex revisions in their Mexican concessions announced on April 7 (higher tariff, lower capex)."
Shares of Grupo Aeroportuario Del Sureste closed at $188.40 yesterday.
You May Also Be Interested In
- Cipla Ltd. (CIPLA:IN) PT Lowered to INR890 at Goldman Sachs
- Larsen & Toubro Ltd. (LT:IN) (LTOUF) PT Raised to INR1,850 at Kotak
- Mphasis Ltd. (MPHL:IN) PT Raised to INR1,650 at Kotak
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades, Hot Comments, Hot Downgrades
Related EntitiesGoldman Sachs
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!