Scotia Capital Has Sector Perform on America Movil

Scotia Capital is out with a research report on America Movil (NYSE: AMX) and it has a Sector Perform rating and a $31 price target on shares.

In a note to clients, Scotia Capital writes, "Even under the "Fidelidad" package of AMX, we were paying P$1.19 to other Telcel phones, P$4.16 to fixed and other mobile operators and as much as P$11.33 in calls to the United States. With our new Unefon rate, we are paying P$1.0 per minute to any location in North America, plus three Unefon/Iusacell numbers for free calls the first six minutes."

Shares of AMX closed at $22.52 yesterday.