Get 40% Off
💰 Warren Buffett reveals a $6.72 billion stake in ChubbCopy Portfolios

America Movil Analyst Turns Bullish On Signs Of Improvement: 'There's Room For Cash Generation'

Published 29/04/2024, 16:25
© Reuters.  America Movil Analyst Turns Bullish On Signs Of Improvement: 'There's Room For Cash Generation'
AMX
-

Benzinga - by Priya Nigam, Benzinga Staff Writer.

Shares of America Movil SAB de CV (NYSE:AMX) have been on an uptrend after the company's first-quarter earnings release.

There are signs of improvements in the company's competitive standing in Mexico and Brazil, which collectively represents more than 60% of its consolidated revenue and EBITDA, according to Goldman Sachs.

The America Movil Analyst: Vitor Tomita upgraded the rating for America Movil to Buy, while keeping the price target unchanged at $22.

The America Movil Thesis: An analysis of the company, its competitors and regulators in Mexico, Brazil and Colombia now suggests an inflection point, Tomita said in the upgrade note.

Check out other analyst stock ratings.

He added that America Movil's latest capex guidance indicates there is "room for cash generation to improve significantly in 2024 and beyond, following a capex peak in 2023."

"AMX has underperformed the Mexico IPC index significantly since 2023 and is now trading at more-attractive multiples relative to historical levels, combined with a more-favorable balance of positive vs. negative potential catalysts, including improving results and eventual new guidance/announcements by the company," the analyst wrote.

AMX Price Action: Shares of America Movil had risen by 1.94% to $19.20 at the time of publication on Monday.

Now Read: Federal Reserve Meeting Preview – High Interest Rates ‘Need More Time To Work,’ Bank of America Says

Latest Ratings for AMX

Oct 2021BarclaysMaintainsOverweight
Oct 2021Itau BBADowngradesOutperformMarket Perform
Sep 2020Canaccord GenuityInitiates Coverage OnSpeculative Buy

View the Latest Analyst Ratings

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.