Corporacion Geo SAB, the Mexican housing company whose shares more than doubled last year, may rise to a three-year high in 2010 as banks boost mortgage lending and the government backs more loans, Credit Suisse Group AG says. Geo shares will climb 26 percent to 46 pesos by year-end from a Feb. 19 close of 36.51 pesos, as profit rises 28 percent to 1.93 billion pesos ($150 million) and sales increase more than 10 percent, said Alan Solis, an analyst at Credit Suisse in Mexico City who rates the stock “outperform.” “Geo is gaining market share,” Solis said. The builder is benefiting from the government-subsidized mortgages that make up more than 60 percent of home loans in Mexico, he said.
Mexican Housing Thaw to Push Geo to Three-Year High
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