BBVA downgraded Grupo Carso stock to Underperform at MXN 135

Published on 10/21/2026 at 10:58 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter revenue reached MXN 48.19 billion, up 9.27 percent sequentially. Grupo Carso stock costs EUR 7.80 on October 21, 2026.

Analyst pressure and quarterly growth

BBVA set an Underperform rating and MXN 135 target on October 14, 2026.
Second-quarter revenue reached MXN 48.19 billion, 9.27 percent above the first quarter.
Grupo Carso stock trades at EUR 7.80 at 10:49 a.m. CEST at Lang & Schwarz on October 21, 2026.

Grupo Carso, MXP461181085, Illustration mit AI erstellt.

Grupo Carso (ISIN MXP461181085) was downgraded to Underperform with a MXN 135 price target on October 14, 2026. Markets Insider reported that BBVA had cut its rating from Market Perform. At Lang & Schwarz, the stock was trading at EUR 7.80 on October 21, 2026, at 10:49 a.m. CEST.

Quarterly growth strengthens the backdrop

Grupo Carso reported second-quarter revenue of MXN 48.19 billion, 9.27 percent above the first quarter, while net income reached MXN 2.96 billion. These figures identify a stronger operating quarter even as the analyst stance turned more cautious. TradingView carried the quarterly revenue and net-income figures in October 2026.

What does the MXN 135 target signal?

The target places valuation discipline at the center of the story. BBVA moved from Market Perform to Underperform, but the target figure itself remains a concrete reference for the market rather than a forecast adopted by this article. Grupo Carso had published its second-quarter report on July 27, 2026, according to the company investor calendar, making the financial release the latest fully quantified operating milestone.

Three dates frame the latest picture

On July 27, 2026, Grupo Carso published its second-quarter report with MXN 48.19 billion in revenue. On October 14, 2026, BBVA downgraded the stock and set a MXN 135 target. On October 21, 2026, the Lang & Schwarz quote stood at EUR 7.80. The sequence shows a company with fresh quarterly growth and a more cautious external valuation view.

The primary listing is on the BMV, where Grupo Carso closed at MXN 161.23 on October 20, 2026. The market capitalization was MXN 363.2 billion as of October 20, 2026. For investors, the key tension is clear: quarterly revenue improved by 9.27 percent from the first quarter, while BBVA assigned an Underperform rating and a MXN 135 target.

Price and valuation remain separate

The euro quotation gives German investors a current reference, while the BMV figures retain the companys home-market currency. The figures should therefore be read as separate venue observations, not as one combined performance measure. The latest reported earnings and the BBVA target provide the two most concrete markers for assessing the stock after the second-quarter report.

Grupo Carso was trading at EUR 7.80 at Lang & Schwarz on October 21, 2026, at 10:49 a.m. CEST.