Citigroup Downgrades Grupo Aeroportuario: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Citigroup has downgraded Grupo Aeroportuario (NYSE:ASR) from a previous rating to Sell, adjusting the price target from $228.00 to $222.00. Despite the downgrade, ASR shares have risen 2.03% in the last 24 hours to $235.67. The new price target suggests a potential 5.8% decrease from the current price. Grupo Aeroportuario operates airports in southeast Mexico, with the Cancun segment being its major revenue source.
November 28, 2023 | 5:00 pm
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Citigroup downgraded Grupo Aeroportuario to Sell and lowered the price target to $222.00. ASR's stock is currently up 2.03%, trading at $235.67.
The downgrade by Citigroup to a Sell rating, along with a reduced price target, is a bearish signal for investors and could lead to a negative short-term impact on ASR's stock price. Despite the recent uptick in share price, the new price target suggests a potential decline, which may influence investor sentiment and trading behavior.
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