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KOF - Driven By OXXO The Core FEMSA Story Remains Attractive
Coca Cola Femsa S.A.B. de C.V.
FEMSA (FMX) isn’t the simplest company, nor does it offer the cleanest, most straightforward financial reports, but at its core this remains a well-run play on Latin American consumers. Underpinned by the OXXO convenience store business, I believe FEMSA has a long runway of attractive growth opportunities and the capital to further enhance its prospects. Currency moves and the health of the Mexican economy are key variables, but with a double-digit implied return on offer, I believe this remains a good candidate as a core holding for investors who want some emerging market