Zacks downgraded shares of America Movil S.A.B. de C.V. (NYSE: AMX) from a neutral rating to an underperform rating in a research note released on Friday morning. They currently have $19.00 price target on the stock.
Zacks’ analyst wrote, “We downgrade our recommendation on America Movil to Underperform from Neutral. While the company’s top line surpassed our expectation, the bottom line disappointed. The interconnection rate reductions in both Mexico and Brazil, regulatory issues in certain markets, and a declining wireline subscriber base remain the key issues with the company. While we believe wireless market in Mexico continues to grow, maturation of Latin American wireless markets and margin pressure will prevent the company from experiencing the same level of growth that it has registered historically. Moreover, aggressive marketing strategies of the company for promoting smartphone penetration will also result in additional cost pressure. “
AMX has been the subject of a number of other recent research reports. Analysts at UBS AG downgraded shares of America Movil S.A.B. de C.V. from a buy rating to a neutral rating in a research note to investors on Wednesday, February 20th. Separately, analysts at Scotiabank cut their price target on shares of America Movil S.A.B. de C.V. from $24.00 to $20.00 in a research note to investors on Tuesday, February 19th. Finally, analysts at JPMorgan Chase cut their price target on shares of America Movil S.A.B. de C.V. from $28.00 to $23.00 in a research note to investors on Friday, February 15th. They now have a neutral rating on the stock.
America Movil S.A.B. de C.V. traded up 0.77% on Friday, hitting $20.90. America Movil S.A.B. de C.V. has a 1-year low of $20.25 and a 1-year high of $28.47. The stock’s 50-day moving average is currently $23.67. The company has a market cap of $79.254 billion and a price-to-earnings ratio of 11.03.
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