Scotiabank has revised its rating for Operadora de Sites Mexicanos (OPMXF, Financial), lowering it from 'Sector Perform' to 'Underperform'. This decision comes with a maintained price target of MXN 15.50. The bank's analysis indicates that the stock, currently trading at MXN 18.91, may be overvalued despite prior expectations for a trading opportunity when shares were priced at MXN 8.87.
The analyst explains that although Opsimex presents itself as a defensive investment in the telecommunications tower sector, there are more attractive yields available, even in sovereign bonds. Investors are being cautioned about the risk of short positions, as the stock's current valuation does not align with the perceived risk-reward balance.
