Grupo Aeroportuario del Pacifico (PAC) Surges 4.5%: Is This an Indication of Further Gains?

Grupo Aeroportuario del Pacifico shares surged 4.5% following an HSBC upgrade and reports of increased Mexican airport traffic in July and August. The company expects quarterly earnings of $2.68 per share (down 6.3% YoY) with revenues up 39.8% to $718.57 million. However, with unchanged earnings estimate revisions over the past 30 days, the stock carries a Zacks Rank #3 (Hold) rating, suggesting the recent gains may not sustain without further positive estimate revisions.