JPMorgan maintains MXN 232 target for Banorte stock

Published on 10/20/2026 at 10:30 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Banorte stock costs EUR 9.90 on October 20, 2026. Q2 earnings reached MXN 15.55 billion; results follow November 4, 2026.

Analyst target and reporting date

JPMorgan kept its MXN 232 target on October 15, 2026.
Banorte reported MXN 15.55 billion in Q2 2026 net income.
Banorte stock trades at EUR 9.90 at 10:17 a.m. CEST at Lang & Schwarz on October 20, 2026.

Banorte, MXP370711014, Illustration mit AI erstellt.

JPMorgan maintained its MXN 232 price target for Banorte stock on October 15, 2026, down from MXN 246, according to Investing.com. The unchanged Buy view gives investors a clear reference point before Banorte reports its third-quarter figures.

Q2 earnings set the baseline

Banorte's second-quarter 2026 earnings were MXN 15.55 billion, while its quarterly earnings trend on Yahoo Finance showed a profit margin of 36.04 percent. The figures provide the latest operating baseline ahead of the next report, although they do not establish a new earnings forecast.

Banorte's standardized second-quarter 2026 financial statement also showed net income of MXN 15.55 billion and diluted earnings per share of MXN 5.03. The quarter ended June 30, 2026, making the figures current under the reporting-period test.

What does the target mean for valuation?

JPMorgan's MXN 232 target compares with the MXN 205.05 quote shown for Banorte on October 20, 2026, on Investing.com. The same page lists 16 analysts, with 9 Buy ratings, 7 Hold ratings and 0 Sell ratings, so the consensus is constructive but not uniform.

Three dates define the recent sequence

On June 24, 2026, Banorte disclosed a U.S. dollar 1.35 billion Tier 1 capital-notes issuance; on October 5, 2026, it announced the early redemption of 5.750 percent Tier 2 notes; and on October 15, 2026, JPMorgan maintained its MXN 232 target. The first two company announcements appear in Banorte's investor-relations release archive.

Next reporting date is November 4

Banorte's investor-relations calendar lists the third-quarter 2026 results conference call for November 4, 2026, at 10:00 a.m. ET. The date is shown on the company's investor-relations homepage.

Banorte stock price in euros

Banorte stock was trading at EUR 9.90 at Lang & Schwarz on October 20, 2026, at 10:17 a.m. CEST. Its Mexican listing was quoted at MXN 205.05 on Investing.com at 12:06 p.m. on October 20, 2026, while the 52-week range shown there was MXN 164.00 to MXN 210.00.

The market capitalization was MXN 568.4 billion as of October 20, 2026. For investors, the next material test is whether third-quarter earnings confirm the profitability base established in the second quarter.

The further course of trading is shown by the continuously updated real-time quote of Banorte stock.