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

About this update from America Movil Sab De Cv Class B

Shares of America Movil SAB de CV NYSE:AMX have been on an uptrend .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 .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: Latest Ratings for AMXDateFirmActionFromToOct 2021BarclaysMaintainsOverweightOct 2021Itau BBADowngradesOutperformMarket PerformSep 2020Canaccord GenuityInitiates Coverage OnSpeculative BuyView More Analyst Ratings for AMXView the Latest Analyst Ratings© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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