FMX Maintained by JP Morgan -- Price Target Raised to $151

Fomento Economico Mexicano S.A.B. de C.V. (FMX) stock rose 4.52% after strong quarterly earnings. The company secured a CHF 300m 5-year bond at 1.73%, improving funding costs. Analysts note FMX's scale in Latin American retail and beverages, with revenue around MXN 782bn, but thin profitability. The stock trades rich on P/E but reasonable on EV/sales, with a 2.2% dividend yield.

JPMorgan upgraded Fomento Economico Mexicano (FMX) to Overweight, raising its price target to $151.00. The firm cited strong earnings momentum, improved capital allocation, and positive operating trends at Oxxo. FMX's dividend yield is 5.57%, and it trades below its fair value. JPMorgan raised its 2027 and 2028 EPS estimates by 12%. FMX reported a 9.3% revenue increase in Q2, with net income up 64.9%. Analysts have mixed views on FMX's outlook.

Fomento Económico Mexicano (FEMSA) reported 2Q26 results. Total consolidated revenues rose 9.3% and operating income increased 7.2% vs 2Q25. OXXO Mexico revenues grew 11.8% and operating income rose 12.3%. Coca-Cola FEMSA revenues increased 4.7% and operating income 9.1%. FEMSA also updated its reporting segments.

Jefferies upgraded Chemed (CHE) to Buy with a $620 price target, citing growth in its hospice business and margin gains. The firm expects earnings stability and valuation expansion. Chemed's Q2 earnings beat estimates, with adjusted EPS of $6.06 and revenue of $673.25M. UBS also initiated coverage with a Buy rating and $650 target, projecting strong EPS growth.

JPMorgan placed ArcelorMittal (MT) on Positive Catalyst Watch, maintaining an Overweight rating and €70 price target. The bank expects a 35% increase in 2027 operating income. ArcelorMittal is expanding its Tokadeh iron-ore plant in Liberia, investing $1.8B to boost shipments to 20M tons by 2026, including rail, power plants, and port upgrades.

KB Asset Management's RISE ETF, listed July 14, allocates 25% each to SpaceX and Tesla, with the rest in short-term U.S. Treasuries. SpaceX reported Q3 revenue of $14.6B, net income of $4.4B, its first quarterly profit. Elon Musk mentioned potential merger talks between Tesla and SpaceX. The ETF, with $25.8M in assets, offers retirement investors exposure to growth stocks and bonds.