UPDATE: Goldman Sachs Lowers PT to $25.50 on America Movil
Goldman Sachs reiterates its Neutral rating on America Movil (NYSE: AMX) and cuts its price target by $0.50 to $25.50 as the company delivers mixed quarterly results.
Goldman Sachs says, "LatAm's largest telco, America Movil, delivered a mixed 4Q2011, with sales of P$182bn ($14.4bn) 3% ahead of our model. But EBITDA (P$64.5bn) missed our model by 2% and earnings (P$16.3bn) were 25% below (-33% vs. consensus), also due to higher taxes and financial expenses."
AMX closed at $24.53 per share yesterday.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.