Grupo Aeroportuario del Centro Norte, S.A.B de C.V. (OMAB) common stock achieved its target price on 29 August 2008 reflecting sustained investor concerns regarding the impact of higher crude oil levels on profitability within the airline industry and a 4.4% y-o-y decline in July 2008 passenger traffic. Although the current common stock price levels now support a HOLD, we do not anticipate a change in our current rating as we expect to revise our estimates downwards in our next update report to account for declining passenger traffic. Although the current ADR levels support a HOLD rating, we do not anticipate a change in our ADR rating given that we now expect a negative currency impact over the medium term.

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