Femsa Recommendation Is Lowered to `Hold' From `Buy' at Banco Santander

Fomento Economico Mexicano SAB was cut to “hold” from “buy” at Banco Santander SA. The brokerage has a 2011 estimate of $61 for the company’s American depository receipts, according to a report by analysts led by Luis Miranda.

To contact the reporter on this story: Shiyin Chen in Singapore at schen37@bloomberg.net

To contact the editor responsible for this story: Reinie Booysen at rbooysen@bloomberg.net

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