Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. American Depositary Receipt (OMAB)
OMA: Near-Term Traffic Challenges, And Longer-Term Uncertainties, But Good Value And Nearshoring Leverage
OMA's Q2'24 results beat expectations with better than expected non-aero revenue and cost control, despite challenges in the operating environment and weaker traffic. OMA's traffic held up well compared to its peers and per-passenger non-aero revenue continues to grow nicely, as management reaps past investments into cargo and logistics assets. The traffic outlook for 2024 is not great, with Volaris grounding jets for engine repairs and a weaker macro backdrop, but nearshoring could drive meaningful growth over the next 5 years.
Here's Why Grupo Aeroportuario del Centro Norte (OMAB) is Poised for a Turnaround After Losing -16.7% in 4 Weeks
Grupo Aeroportuario del Centro Norte (OMAB) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.
Grupo Aeroportuario del Centro Norte (OMAB) Could Find a Support Soon, Here's Why You Should Buy the Stock Now
After losing some value lately, a hammer chart pattern has been formed for Grupo Aeroportuario del Centro Norte (OMAB), indicating that the stock has found support. This, combined with an upward trend in earnings estimate revisions, could lead to a trend reversal for the stock in the near term.
