JPMorgan lowers target for Banorte stock to MXN 232

Published on 10/23/2026 at 11:44 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Banorte stock costs EUR 9.98 on October 23, 2026. Q2 net income reached MXN 15.55 billion, while JPMorgan's target is MXN 232.

Targets results and valuation

JPMorgan analyst Yuri Fernandes lowered the target to MXN 232 on October 15, 2026.
Banorte reported MXN 15.55 billion in net income for the second quarter of 2026.
Banorte stock trades at EUR 9.98 at 11:37 a.m. CEST at Lang & Schwarz on October 23, 2026.

Banorte, MXP370711014, Illustration mit AI erstellt.

Banorte (MXP370711014) is trading at EUR 9.98 at Lang & Schwarz on October 23, 2026, while JPMorgan's target for the shares stands at MXN 232. StreetInsider reported on October 15, 2026 that JPMorgan analyst Yuri Fernandes lowered the target to MXN 232.

The target revision gives the stock a fresh valuation reference ahead of Banorte's next results conference call. The investor-relations calendar schedules that event for November 4, 2026, at 10:00 a.m. ET, according to Grupo Financiero Banorte.

Second-quarter earnings set the base

Banorte reported MXN 15.55 billion in net income for the second quarter ended June 30, 2026. TradingView also lists MXN 103.01 billion in total revenue for the quarter and identifies the company as listed on the Mexican Stock Exchange, giving investors a periodized operating reference. TradingView reports the Q2 net income figure and revenue data.

What does the target mean?

The MXN 232 target sits above the BMV quote of MXN 207.91 on October 22, 2026, but the target revision itself was a cut, not an upgrade. The BMV price was MXN 2.09 below its MXN 210.00 52-week high, equal to 1.00 percent after rounding. That leaves the November results call as the next dated test for earnings momentum.

Three dated reference points

On June 30, 2026, Banorte's second-quarter net income was MXN 15.55 billion. On October 15, 2026, JPMorgan lowered its target to MXN 232. On November 4, 2026, Banorte is scheduled to hold its third-quarter results conference call.

Key dates for investors

The next substantiated date is November 4, 2026, for the third-quarter results conference call. The investor-relations calendar gives the start time as 10:00 a.m. ET.

Stock price and market setting

Grupo Financiero Banorte's primary listing is on the Mexican Stock Exchange under ticker GFNORTE/O. The finance quote dated October 22, 2026, put market capitalization at MXN 576.9 billion and the 52-week range at MXN 164.00 to MXN 210.00.

Banorte was trading at EUR 9.98 at Lang & Schwarz on October 23, 2026, at 11:37 a.m. CEST. The further course of trading is shown by the continuously updated real-time quote of Banorte stock.