Barclays Cuts FEMSA (FMX) Target to $105, Keeps Equal Weight Rating

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) is one of the best Mexican stocks to invest in. On November 3, Barclays lowered its price target for Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX), known as FEMSA, from $107 to $105 and maintained an Equal Weight rating.

In a different update, FEMSA reported Q3 2025 results on October 28, in which the 7 Mexican pesos EPS missed the analyst consensus estimate by 15.34. Revenue for the quarter was 214.64 billion Mexican pesos, coming in above the consensus forecast of 211.54 billion Mexican pesos. The revenue is 9.1% above that of Q3 2024, and management explained that the growth came on the back of increases across all business units, including favorable currency exchange rates and effects from mergers and acquisitions.​

Net consolidated income in the quarter fell by 36.8% year-over-year, to 5.8 billion Mexican pesos. The decline was attributed to a non-cash foreign exchange loss of 1.3 billion Mexican pesos relating to the company’s US dollar-denominated cash position. In the same quarter last year, FEMSA recorded a foreign exchange gain of 4.3 billion Mexican pesos. The company also reported that it distributed dividends amounting to 11.8 billion Mexican pesos for the quarter.

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) is a multinational Mexican conglomerate that operates the largest independent Coca-Cola bottling group globally. It also owns OXXO, Mexico’s largest convenience store chain.

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Disclosure: None. This article is originally published at Insider Monkey.