Mexico

Grupo Aeroportuario Centro Norte: OMA, Quarterly Report 1Q21: Positive outlook despite tough year start

  • Oma posted y/y falls, showing some setback to the recovery previously recorded, in view of a complex year start

  • As demand begins to improve, we updated our estimates with positive implications, expecting growth to return in 2Q21

  • Our new PT is MXN 146.00. Given a better recovery outlook and attractive valuation levels, we upgrade to Buy

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Jose Itzamna Espitia Hernandez @ Banorte
May 3rd, 2021
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