In a report published Friday, Morgan Stanley analyst Michel Morin reiterated an Equal-Weight rating on America Movil AMX, but lowered the price target from $21.00 to $20.00.
In the report, Morgan Stanley noted, “Trimming EBITDA estimates by 1-2% following 4Q results. The larger cut to EPADR reflects large projected FX losses YTD, based on current levels. We trim our DCF-based PT by $1 to $20/ADR (unchanged at P$13/share). We view the risk-reward evenly balanced and remain Equal-weight.”
America Movil closed on Friday at $21.10.
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