Scotiabank has elevated its rating for Fibra Uno (FBASF, Financial), upgrading it from Sector Perform to Outperform. This shift in recommendation comes with a revised price target, now set at MXN 34, up from the previous MXN 30.
The bank's upgrade reflects a broader strategic reevaluation within the Mexican real estate sector. Analysts at Scotiabank consider the potential challenges posed by steeper yield curves in the industrial real estate segment. They also anticipate subdued rent growth opportunities over the long term, reducing the likelihood of cap rate compression in the market.
