Halister News

--KRISTIN JENSEN

(Bloomberg) -- Shares of Controladora Vuela Cia. de Aviacion rose 3.5% to 27.53 pesos, the highest price on an intraday basis since Feb. 20; Mexico’s benchmark IPC index is up 0.3%

• Earlier: Volaris Raised to ‘Hold’ at HSBC from ‘Reduce’ With Same Price Target
• HSBC “less concerned” on Volaris valuation given steep decline in company’s shares, analysts led by Ravi Jain write in note
• NOTE: Volaris shares down 20% from six months ago, according to data compiled by Bloomberg
• Co. still faces challenges including weak consumer confidence, higher oil prices and peso volatility, HSBC says
• “We await better visibility into consumer sentiment and Mexican macro and prefer to stay on the sidelines for now,” Jain writes.
• Earlier: Volaris March Passenger Traffic Grows 8% Y/y, Link

(Bloomberg) -- Following are forecasts for today’s U.S. economic releases as compiled by Bloomberg News:

• Ism Non-Manu 57; range 53.4 to 60 (73 estimates)
• • In February, the ISM non-manufacturing index rose to 57.6, the highest since October 2015, led by orders
  • The business activity index, which parallels the ISM’s factory production gauge, rose to second-highest since August 2005

(Bloomberg) -- McCormick indicated $98.80-$100.60 pre-market vs $98.42 close after JPMorgan analyst Ken Goldman upgraded to neutral from underweight (PT $96 from $91). JPMorgan had the only sell rating on McCormick: Bloomberg data.

• While JPM continues to view MKC as overvalued, highlights management’s comments yesterday that M&A would “play an expanded role” in the co.’s growth
• MKC "sounded highly confident" about current fundamentals and the likelihood they would improve throughout the year
• Raises FY18E EPS estimates to $4.46 from $4.39, FY19E to $4.77 from $4.70
  • Street estimates $4.46 and $4.79: Bloomberg data
• Says management indicated willingness to issue equity for the right deal
• MKC 3 buys, 12 holds, 0 sells, avg PT $102: Bloomberg data
• NOTE: April 4, McCormick Targets Sales of at Least $5b in 2019 vs Est. $4.9b

To contact the reporter on this story: Tatiana Darie in New York at tdarie1@bloomberg.net To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net Scott Schnipper