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On Friday, JPMorgan downgraded Grupo Aeroportuario del Centro (OMAB:MM) (NASDAQ: OMAB) from Neutral to Underweight, while simultaneously increasing the price target from Peso215.00 to Peso240.00. The adjustment follows Grupo Aeroportuario del Centro’s remarkable 53.43% surge over the past six months, with the stock now trading near its 52-week high of $102.74. According to InvestingPro data, technical indicators suggest the stock is in overbought territory.
The JPMorgan analyst acknowledged the company’s strong traffic performance and the anticipation of its 2026-2030 Master Development Plan (MDP). However, the firm believes these factors are already reflected in the current stock price, which trades at a P/E ratio of 18.11x. The revised price target takes into account a projected 5% real-term increase in tariffs as part of the MDP and an estimated Mx$14.5 billion in total capital expenditures over the five-year period, averaging Mx$90 per passenger. With impressive gross profit margins of 68.55% and a sustainable 4.7% dividend yield, InvestingPro analysis reveals 14 additional key insights about OMAB’s financial strength.
The analyst praised Grupo Aeroportuario del Centro’s management for their proactive commercial strategies, which have been incorporated into JPMorgan’s projections. Despite the downgrade, the analyst emphasized that the Underweight rating is a comparative assessment against sector peers ASUR and GAP, and not an absolute judgment on the company’s performance or prospects. The company maintains a GREAT financial health score according to InvestingPro, with strong metrics across profitability and operational efficiency.
Investors are encouraged to consider taking profits after OMA’s stock outperformed by 26% in the last six months, according to JPMorgan’s analysis. The recommendation to adjust positions is based on the belief that the company’s recent achievements and future plans are adequately factored into the current valuation.
The update from JPMorgan provides a new perspective on Grupo Aeroportuario del Centro’s stock as the market continues to evaluate the company’s financial health and strategic direction in the context of the broader airport services industry.
In other recent news, Grupo Aeroportuario del Centro Norte, also known as OMA, reported a 9.1% increase in passenger traffic for the first quarter of 2025, reaching 6.4 million passengers. The company also announced a 15.6% rise in revenue from both aeronautical and non-aeronautical sources, with an Adjusted EBITDA of Ps.2,372 million. Additionally, OMA declared a significant dividend of Ps.4,500 million, approved at the Annual General Ordinary Shareholders’ Meeting, to be distributed in two installments by November 2025. BofA Securities upgraded Grupo Aeroportuario’s stock from Underperform to Neutral, citing increased passenger traffic and reduced tariff risks. The firm also adjusted its price objective to P$266/US$110 per American Depositary Share, reflecting improved financial projections. Furthermore, OMA has filed its annual reports with the U.S. Securities and Exchange Commission and Mexico’s National Banking and Securities Commission, providing essential information about its financial performance. These developments highlight the company’s ongoing financial activities and strategic decisions impacting its operations and investor relations.
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