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Desarrolladora Homex S.A.B. de C.V.

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HXM.N

ISIN: US25030W1009
SEDOL: B01PYB2

Rating:

BUY

Target Price:

22.36 USD

Investment Horizon:

6 to 12 months
2nd Jun 2009 View Report   Download

Company News Alert

Desarrolladora Homex S.A.B. de C.V.'s (Homex) common stock price has appreciated substantially since our last update report and achieved our common stock target price on 01 June 2009. This price rally reflects broader market improvements and positive reaction to Homex's increasing market share as it capitalizes on the impact of the financial crunch on smaller cash strapped builders. Although 1Q 09 revenues and earnings had beaten our estimates…

29th Apr 2009 View Report   Download

1Q 09 News Alert

Desarrolladora Homex S.A.B. de C.V.’s (Homex) 1Q 09 total revenues, margins and earnings beat our expectations. Management has reiterated its previous guidance for FY 2009. In view of better-thanexpected 1Q 09 results and reaffirmation of robust revenue growth and EBITDA guidance, we maintain our BUY rating for the Homex common stock. We will reassess the Homex common stock rating in our next update report....

20th Apr 2009 View Report   Download

4Q 08 & FY 2008 Update Report

Despite an anticipated continuation of the weak economic environment in Mexico, we continue to hold a positive outlook for the Homex common stock. Our optimism stems from Homex‘s reduction of its exposure to the middle income segment and increasing focus on the affordable homes segment. Demand in the affordable homes segment continues to outstrip supply and is further supported by the Mexican government’s continued support for mortgage provision…

24th Feb 2009 View Report   Download

4Q 08 & FY 2008 News Alert

Desarrolladora Homex S.A.B. de C.V.’s (Homex) 4Q 08 total revenues were above our expectation. However, margins were below our estimate due to higher-than-expected expenses. Going forward, despite the deteriorating macroeconomic environment, we are encouraged by Management’s FY 2009 revenue and EBITDA margin guidance. Hence, we view the common stock as an attractive investment opportunity and, therefore, we maintain our BUY rating at…

16th Jan 2009 View Report   Download

Company News Alert

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Desarrolladora Homex S.A.B. de C.V.’s (Homex) common stock has declined substantially since our rating downgrade in our company news alert dated 06 January 2009, reflecting ongoing volatility in financial markets coupled with concerns of weakness in the homebuilding industry. However, as we anticipate that demand for affordable entry-level homes and availability of government mortgage financing in Mexico will continue to drive…