Pacifico Expects Little Turbulence in 2018
Wide-moat Grupo Aeroportuario del Pacifico released 2018 guidance for double-digit top-line growth as a result of traffic expansion and robust growth in nonaeronautical revenue. These expectations do not deviate substantially from our previous projections. We are raising our fair value estimate to $120 per ADR from $115 for the ADR and to MXN 223 from MXN 218 for the Mexican share class.The company expects traffic to increase 8% and total revenue to increase 13%, thanks to aeronautical revenue...
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