The consensus price target for Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC) has been on an upward trend, indicating growing confidence among analysts.
Despite a recent 5% decline in stock price, PAC’s increase in non-aeronautical revenues and raised full-year guidance suggest a positive outlook.
Analyst Cenk Orcan from HSBC maintains a buy rating for PAC, with a price target reflecting strong EBITDA margins and expected revenue growth.
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC) operates airports mainly in Mexico’s Pacific region. The company has seen a positive trend in the consensus price target for its stock over the past year. This trend suggests growing confidence among analysts in PAC’s future prospects, despite recent challenges.
Last month, the average price target for PAC was $195.5, up from $193.88 last quarter and $180.92 last year. This upward trend indicates a positive sentiment among analysts, possibly due to strategic developments or favorable market conditions. Despite a recent 5% decline in stock price, PAC maintains a positive outlook.
The decline in stock price is attributed to increased concession fees and changes in passenger fees. However, PAC reported a 12.9% increase in non-aeronautical revenues in the second quarter, offsetting a 3.2% decline in overall revenue. The company has raised its full-year guidance, expecting total revenue growth of 2-4% and a 20-22% increase in non-aeronautical revenues.
PAC’s EBITDA margins are expected to remain strong at 67%, reflecting the company’s resilience. Analyst Cenk Orcan from HSBC maintains a buy rating for PAC, with a price target of $175. This target reflects the analyst’s expectations for the stock’s future performance based on the company’s current financial standing and market conditions.
