The World Cup tailwind might prove to be less positive than previously expected, and there might be some overhang risks in 2H26. For another quarter, we are overall below consensus, yet the gap is lower vs. in the previous 2 quarters. Amid some PT updates to the downside, we update our FY26 year-end and 12M MEXBOL PTs to 71,000 and 75,500, respectively (2.5% lower on average). We also reiterate our Top Picks: Bimbo, Cemex, Danhos, Vesta, and Vinte (low liquidity).
