Buy rating sets MXN 238.00 target for Banorte stock

Published on 10/06/2026 at 17:17 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter net income reached MXN 15.6 billion, up 6.00 percent year over year. The Buy rating targets MXN 238.00 for Banorte stock.

Banorte, MXP370711014, Illustration mit AI erstellt.

Banorte (ISIN MXP370711014) has a MXN 238.00 analyst target after a Buy rating cited in a September 19, 2026 report by The Globe and Mail. The target sits above the BMV quote, while Banorte's latest reported earnings provide a second measure of operating momentum.

Buy rating meets stronger earnings

AInvest reported that Banorte earned MXN 15.6 billion in net income in the second quarter of 2026, up 6.00 percent from the same period a year earlier. Return on equity reached 25.70 percent in that quarter, giving the earnings figure a profitability context rather than presenting growth alone.

The same report said non-performing loans stood at 1.50 percent and the cost of risk at 1.90 percent in the second quarter of 2026. Those figures were within Banorte's stated 2026 cost-of-risk guidance range of 1.80 percent to 2.10 percent, a comparison that helps explain why the Buy rating is paired with an earnings-based case.

Third-quarter date adds a near-term test

Banorte's investor-relations page lists October 28, 2026, as the date for the third-quarter results conference. The event gives investors a defined point at which to compare loan growth, profitability and credit quality with the second-quarter figures.

For the 2026 plan, the reported outlook calls for loan growth of 8.00 percent to 11.00 percent and return on equity of 27.00 percent to 29.00 percent. The second-quarter return on equity of 25.70 percent was therefore below the full-year target range, making the next results a measurable test of progress rather than a purely calendar-driven event.

BMV quote remains below yearly high

On the BMV, Banorte was at MXN 189.76 at 8:56 a.m. CDT on October 6, 2026, against a prior close of MXN 187.41, a gain of 1.25 percent. The 52-week range was MXN 164.00 to MXN 210.00, placing the quote 9.64 percent below the high; market capitalization was MXN 533.8 billion on the same date.