Mexico’s economy doesn’t look all that strong now, with uncertainties regarding the trading relationship with the U.S. leading companies to defer/delay new investments and less activity from the government than expected in terms of supporting investments into improved public works. Against that backdrop, I believe Mexican companies with solid, less cyclical base business and strong overall financial positions will do better, and PINFRA (OTCPK:PUODY) (PINFRA.MX) definitely qualifies in my view.
Despite a weaker than expected first quarter and an initially worrisome change to a concession agreement, PINFRA shares are still up