In a report released today, Ian Zaffino from Oppenheimer maintained a Buy rating on Corporacion America Airports SA (CAAP), with a price target of $9. The company’s shares opened today at $7.58.
Zaffino observed:
“Impacted by continued macro challenges in Argentina, CAAP’s 4Q18 EBITDA of $90.4M missed our $111M estimate. Passenger traffic growth decelerated to ~3.9% YoY in 4Q, vs. 5.8%/7.4% in 3Q18/2Q18, while mix continues to shift toward domestic. Management maintains a cautious 2019 outlook as Argentina traffic will remain challenged by the difficult economic environment coupled with an uncertain presidential election year. We reduce our FY2019E EBITDA to $460M from $565M. Maintain Outperform; lower PT to $9 from $12.”
According to TipRanks.com, Zaffino is a 4-star analyst with an average return of 2.9% and a 53.7% success rate. Zaffino covers the Services sector, focusing on stocks such as Servicemaster Global Holdings, Wyndham Hotels & Resorts Inc, and Wyndham Destinations Inc.
The the analyst consensus on Corporacion America Airports SA is currently a Hold rating.
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The company has a one-year high of $13.24 and a one-year low of $5.70. Currently, Corporacion America Airports SA has an average volume of 140.6K.
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Corporacion America Airports SA engages in acquiring, developing, and managing airport concessions. It operates through the following geographical segments: Argentina, Italy, Brazil, Uruguay, Ecuador, Armenia, and Peru. The company was founded on December 14, 2012 and is headquartered in Luxembourg.
