In a report released today, Ian Zaffino from Oppenheimer maintained a Buy rating on Corporacion America Airports SA (CAAP), with a price target of $12. The company’s shares opened today at $8.03, close to its 52-week low of $7.62.
Zaffino noted:
“Driven by favorable currency, offset by a higher mix of lower-priced domestic travel, CAAP reported 3Q18 adjusted EBITDA of $122.5M vs. our $119.6M forecast. Passenger traffic of 22.1M in 3Q improved 5.8% YoY, primarily driven by 5.9%/5.2% growth in Argentina/Brazil. Despite a solid quarter, management’s outlook was cautious. Expectations are for unfavorable economic conditions to impact profitability. We reduce FY2018E EBITDA to $492M, from $497M. Maintain Outperform.”
According to TipRanks.com, Zaffino is a 2-star analyst with an average return of 0.2% and a 49.6% success rate. Zaffino covers the Services sector, focusing on stocks such as Servicemaster Global Holdings, Wyndham Hotels & Resorts Inc, and Wyndham Destinations Inc.
Corporacion America Airports SA has an analyst consensus of Moderate Buy, with a price target consensus of $12.
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The company has a one-year high of $17.99 and a one-year low of $7.62. Currently, Corporacion America Airports SA has an average volume of 165.2K.
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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.
