Fomento Economico Mexicano SAB (ADR) (FMX) was Upgraded by Citigroup to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. Citigroup advised their investors in a research report released on Apr 29, 2016.
Many Wall Street Analysts have commented on Fomento Economico Mexicano SAB (ADR). Shares were Reiterated by Barclays on Mar 7, 2016 to “Overweight” and Lowered the Price Target to $ 109 from a previous price target of $111 .Fomento Economico Mexicano SAB (ADR) was Upgraded by HSBC Securities to ” Hold” on Feb 17, 2016.
Fomento Economico Mexicano SAB (ADR) closed down -1.56 points or -1.67% at $91.68 with 6,82,397 shares getting traded on Wednesday. Post opening the session at $93.11, the shares hit an intraday low of $91.17 and an intraday high of $93.48 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
Fomento Economico Mexicano S.A.B. de C.V. (FEMSA) is a holding company. The Company conducts its operations through principal holding companies each of which it refers to as a principal sub-holding company. These companies are Coca-Cola FEMSA S.A.B. de C.V. (Coca-Cola FEMSA) which engages in the production distribution and marketing of beverages and FEMSA Comercio S.A. de C.V. (FEMSA Comercio) which operates small-format stores and CB Equity LLP (CB Equity) which holds its investment in Heineken N.V. and Heineken Holding N.V. The Company’s Coca-Cola FEMSA produces markets sells and distributes Coca-Cola trademark beverages through standard bottler agreements in certain territories in the countries in which it operates. Coca-Cola FEMSA also sells bottled water products in bulk sizes. FEMSA Comercio operates a chain of small-format stores in Mexico.