Despite the scandal of the recordings released three weeks Accival-Banamex analysts still recommend buying the shares of the concessionaire infrastructure firm OHL Mexico, but with a high risk level.
Despite the scandal of the recordings released three weeks Accival-Banamex analysts still recommend buying the shares of the concessionaire infrastructure firm OHL Mexico, it makes even with a high level risk.
Even raised the target of the titles of the station for the next 12 months to 41 pesos price.
Currently listed at 23.90 pesos on the Mexican Stock Exchange, the would imply a potential 71.5 percent gain.
Accival explained in an analysis that the revision of its estimates of OHL Mexico includes the incorporation of the results of the first quarter of 2015, which were not positive.
Therefore, he said, it is likely that rates Bicentennial Viaduct concession will remain unchanged, with an annual traffic growth of this asset of between 3 and 5 percent.
He also mentioned that the Bicentennial Viaduct represented approximately 12% of revenues and 11% of operating cash flow (EBITDA) of toll roads in the 2014 OHL Mexico.
The brokerage sees Banamex a “significant long-term value, but in the short term there will be many obstacles, such as uncertainty about a possible sanction to the company by the authorities.”
Accival said the following: “We can not rule out the risk of lasting damage to the company, although the facts revealed so far seem isolated”
In his analysis, Accival unknown. when regulators disclose the findings of its investigations, but says that when that happens the shares of the Spanish company could rebound, especially “if it is determined that the company complied with generally accepted industry practices.”
ricardo.jimenez@eleconomista.mx
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