ASR - Grupo Aeroportuario Del Pacifico Offers Investors A Middle Path

• Like its peers, GAP has seen its traffic hit hard by the COVID-19 pandemic, though recent trends in Guadalajara and Tijuana have been better than average.
• GAP is positioned more as a "middle ground" between the more tourist-driven ASUR and more business/domestic-driven OMAB, and this could help reduce some of the recovery volatility risk.
• There is significant uncertainty regarding GAP's Master Development Plan, as management will seek a renegotiation to compensate for business lost during COVID-19.
• Growing non-aero revenue would be a big plus for GAP, but the shares still offer relatively attractive return potential on mid-single-digit long-term revenue growth.

For further details see: