Disclosure of Information in Analytical Reports of CASA DE BOLSA VE POR Más, SA DE CV, GRUPO FINANCIERO VE POR Más General regulations applicable to financial entities and other persons providing investment services (Article 47 “Regulations”).
The analysts responsible for preparing this report are Juan F. Rich Rena, Rafael Antonio Camacho Peláez, Marisol Huerta Mondragón, Eduardo Lopez Ponce, Alejandro Javier Saldaña Brito, Angel Ignacio Ivan Huerta Monzalvo, Maricela Martínez Álvarez, Gustavo Hernández Ocadiz and Agustín Becerril García. Available at www.vepormas.com, which reflects the views only of analysts who receive compensation from B×+ solely for services rendered for the benefit of B×+ clients. The variable or special compensation they receive is determined based on Grupo Financiero B×+’s profitability and each analyst’s individual performance.
This document has been prepared for (internal/personal use) as part of consulting and analytical services for monitoring the issuer. Under no circumstances should it be construed as an objective opinion about the issuer, nor as general advice. Therefore, its copy Casa de Bolsa Ve Por Más, SA de CV forwards it to third parties who cannot directly prove its receipt, exempting it from any liability arising from its use for investment decisions.
Grupo Financiero Ve por Más has invested no more than 1% of the value of its portfolio at the end of the past three months in instruments that are the subject of the recommendation. Analysts who cover Recommended Sites may keep Recommended Sites in their portfolios. Maintain this position for at least 3 months. None of the Directors, Managing Directors or Directors of the Financial Group Company hold any position at the Station which is the subject of the Proposal.
Casa de Bolsa Ve por Más, SA de CV and Banco ve por Más, SA, Institución de Banca Múltiple provides advised and non-advised investment services to its individual and corporate clients in Mexico and abroad. It is possible that it provides or will provide certain services in the future to the issuing companies that are the subject of our reports through its corporate finance, special accounts, portfolio management or other areas. In these cases, the entities that make up Grupo Financiero Ve Por Más receive compensation from the above-mentioned companies for the above-mentioned services. The information contained in this report has been obtained from sources we believe to be reliable and, even if it is an estimate, no representation can be made as to its accuracy or completeness. This information, and where appropriate the estimates developed, are current as of the date of its publication and are subject to revision, where appropriate and consistent with current regulations, the proximate reasons for changes in its implications will be indicated. Except as provided in the Regulations regarding the serialization of reports, the entities making up Grupo Financiero Ve por Más do not undertake to certify or update the contents of this document.
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Categories and Opinion Criteria
| category standard |
feature | The situation is strategy |
Differences and Differences IPyCPerformance |
|---|---|---|---|
| favorite | A site that meets our two basic requirements: 1) Become an extraordinary company; 2) Attractively valued. The 6 factors our analysis identifies to identify outstanding companies are: growth, profitability, industry, financial structure, dividend policy and management. Valuations are attractive when the potential return from the target price is higher than IPyC’s estimated return. | This is part of our strategic portfolio | Greater than 5.00 pages |
| attention! | Very close to a station that met our two basic requirements: 1) Become an extraordinary company; 2) Attractively valued. The 6 factors our analysis identifies to identify outstanding companies are: growth, profitability, industry, financial structure, dividend policy and management. Valuations are attractive when the potential return from the target price is higher than IPyC’s estimated return. | It may or may not be part of our strategic mix | Within the range of 5.00 pp or less |
| not now | Sites that currently cannot meet our two basic requirements: 1) Become an extraordinary company; 2) Attractively valued. The 6 factors our analysis identifies to identify outstanding companies are: growth, profitability, industry, financial structure, dividend policy and management. Valuations are attractive when the potential return from the target price is higher than IPyC’s estimated return. | it is not part of our strategic portfolio | Less than 5.00 pages |