Citi Chops Mexico Equity, Tips LatAm Bounce

Citi Chops Mexico Equity, Tips LatAm Bounce

Mexico

Citi is cutting Mexico equity to underweight from neutral and adding to an overweight in Chile, while also projecting dollar-adjusted returns of 41% in LatAm stocks next year. “All of these returns should be expected after a Q1 pullback in regional markets,” says the shop, which expects end-2009 market targets of 55,000 on the Bovespa, the Mexican bolsa at 24,000, Chile’s IPSA at 2,900, Colombian IGBC at 10,500 and Peru’s General ending at 9,500. Citi anticipates an early-2009 new relapse of reg

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