Morgan Stanley Upgrades ASR To Overweight

Morgan Stanley is upgrading ASUR

to Overweight on easing overhangs, improving fundamentals and an attractive valuation vs. peers following YTD underperformance. “Better results and improved sentiment regarding potential second airport could mean improved stock performance ahead,” Morgan Stanley writes. “We are raising our estimates for 2011 and 2012 EPS by 13%. Our 2012e EPS is 15% above consensus. 3-year CAGR is forecast to be 7% for traffic and 14% for EPS (in USD terms).” ASUR currently trades at $56.01.