Wide-moat Pacifico Cruises as Passenger Traffic Increases Double Digits
Wide-moat Pacifico third-quarter earnings beat consensus thanks to strong passenger growth, but we are maintaining our $119 fair value estimate. Total passenger traffic increased 10% to 10.1 million, as domestic traffic grew nearly 10% and international increased 11% compared with the prior-year period. Tijuana was a growth driver as the Cross Border Xpress, a binational airport terminal connecting San Diego and Tijuana, pushed traffic up 14% at the Tijuana airport with international passengers ...
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