Earnings Report /
Mexico

Grupo Aeroportuario del Pacifico: Quarterly Report 3Q21: Continues to widen the gap vs. pre-pandemic level

  • Gap's report showed relevant growth, driven by solid passenger performance, an easy comparable base, and cost control

  • Figures remain above pre-pandemic levels. While by 2022, progress will continue to be supported by a more dynamic demand

  • Considering the favorable outlook, we set a PT of $300.00 (2022e FV/EBITDA multiple of 13.6x). Our rating is Buy

Jose Itzamna Espitia Hernandez
Jose Itzamna Espitia Hernandez

Senior Equity Research Analyst, Infrastructure, Materials and Transportation

Banorte
30 October 2021
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