Goldman Sachs has revised its outlook on Alsea (ALSSF, Financial), shifting its rating from Neutral to Sell, and has set a price target of MXN 34.80. The change comes after a comprehensive evaluation of more than ten years of macroeconomic data and consumer behavior among over 28,000 Mexican households.
The analysis highlights the cyclical nature of the quick-service restaurant and casual dining markets in Mexico. The firm expresses concerns that slowed economic activity in the region could adversely impact Alsea's ability to meet its recently released projections.
