Analysts lift Banorte price target to $11.53 amid fund interest

  • Investing.com
  • Stock Market News
Analysts lift Banorte price target to $11.53 amid fund interest
Credit: © Reuters.

Analysts have recently upgraded the one-year price target for Grupo Financiero Banorte, a leading Mexican banking group, to a new target of $11.53 from the old target of $10.28. This revision indicates a potential increase of approximately 25% from the last closing price of $9.18 per share. The range of projections from various analysts spans from a low of $9.85 to a high of $13.20 per share.

In line with these optimistic projections, fund ownership in Banorte has shown significant growth. The number of shares held by funds has surged to over twenty-three million, marking an increase of nearly one-fourth.

Among the funds adjusting their positions, QCSTRX has expanded its holdings in Banorte to over nine million shares, reflecting an increase of almost 9%. This move included a boost in their allocation to Banorte by about 3%. Conversely, JEMQX has decreased its stake in the financial institution to less than four million shares after an 11% reduction.

Despite these individual adjustments, the overall fund portfolio weight dedicated to Banorte has experienced a slight decrease, now representing just under half a percent.

This growing interest from funds and the revised price target reflect a positive outlook for Grupo Financiero Banorte as it continues to navigate the financial landscape.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100

Related Articles