JPMorgan Upgrades GAP Airports (PAC) to Overweight, Cuts Target to 460 Mexican Pesos

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC) is one of the best Mexican stocks to invest in. On November 14, JPMorgan’s Guilherme Mendes upgraded Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC) (GAP Airports) stock to Overweight from Neutral, and cut the price target to 460 Mexican pesos from 465 Mexican pesos. Mendes characterized GAP Airports as attractive on a valuation basis and highlighted that the recent share‑price performance and current multiples leave room for upside relative to the analyst’s fundamental view of the company.

Just seven days before this analyst action (on November 7), GAP Airports had reported preliminary terminal passenger traffic figures for October 2025. The report showed a total of 4.87 million passengers across all its airports, a 0.8% decrease from October 2024.​ For the January–October 2025 period, total terminal passengers reached 52.68 million, a 3.2% year-to-date increase compared with the same period in 2024. In other words, traffic grew over the full 10‑month period despite the slight decline in October.

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC) is a Mexican airport operator headquartered in Guadalajara. The company operates 12 airports in central and northwestern Mexico and two in Jamaica. GAP is the largest airport operator in Mexico based on passenger traffic.

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Disclosure: None. This article is originally published at Insider Monkey.