OMA reinstated with a Sell at Citi

Citi analyst Stephen Trent reinstated coverage of OMA with a Sell rating and $76 price target. The company’s traffic growth looks positive, but inconsistent versus peers, and positioning in the shares "appears crowded," the company tells investors in a research note. The firm believes OMA’s valuation suggests that Nearshoring momentum in Northern Mexico "will never miss a beat." As such, the shares "look vulnerable to any potential hiccup in Mexico’s Nearshoring narrative," contends Citi.