JPMorgan lowered target to MXN 232 for Banorte stock

Published on 10/19/2026 at 09:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Banorte stock costs EUR 9.88 on October 19, 2026, while results are scheduled for November 4, 2026. The BMV quote was MXN 205.54 on October 16.

Analyst action and market setup

JPMorgan had lowered its Banorte target to MXN 232 on October 15, 2026.
Q2 2026 revenue was MXN 43.15 billion against MXN 41.19 billion expected.
Banorte stock traded at EUR 9.88 at 9:08 a.m. CEST at Lang & Schwarz on October 19, 2026.
Banorte's next results conference call is scheduled for November 4, 2026.
Market capitalization stood at MXN 570.3 billion on October 16, 2026.

Banorte, MXP370711014, Illustration mit AI erstellt.

Banorte (ISIN MXP370711014) had a JPMorgan target of MXN 232 after analyst Yuri Fernandes lowered it on October 15, 2026, as StreetInsider reported. At 9:08 a.m. CEST on October 19, 2026, the euro quote stood at EUR 9.88 at Lang & Schwarz.

What does the target cut change?

The lower target puts the analyst view alongside Banorte's operating figures rather than the intraday euro quote. In Q2 2026, revenue reached MXN 43.15 billion against an expected MXN 41.19 billion, a 4.76 percent difference, according to TradingView.

The same source listed Q2 2026 net income at MXN 15.55 billion, compared with MXN 15.46 billion in the previous quarter. That 0.58 percent increase provides a measured counterpoint to the target revision.

Results are due November 4

Banorte's investor-relations calendar schedules the third-quarter 2026 results conference call for November 4, 2026. The date and event are shown on the Grupo Financiero Banorte investor-relations page.

The upcoming report will give investors a fresh test of loan demand, provisions and earnings quality. The previous quarter's MXN 15.55 billion net income and MXN 43.15 billion revenue provide the numerical baseline for that review.

BMV quote sits below its high

Banorte's BMV quote was MXN 205.54 at the October 16, 2026 close, with a market capitalization of MXN 570.3 billion. The 52-week range was MXN 164.00 to MXN 210.00, leaving the share price 2.12 percent below the upper end.

The bank had also implemented total return swaps in Mexico on September 28, 2026, following regulatory approval, according to Asset Servicing Times. The move expanded its treasury and capital-markets capabilities and adds strategic context ahead of the results call.

Euro quote before results

The 9:08 a.m. CEST quote gives German investors a live euro reference before the November 4 reporting date. The next signal will be the bank's third-quarter figures and management commentary on the balance between growth and risk costs.

Banorte was trading at EUR 9.88 at Lang & Schwarz on October 19, 2026 at 9:08 a.m. CEST. The further course of trading is shown by the continuously updated real-time quote of Banorte stock.