America Movil price target lowered to $19 from $19.60 at Scotiabank

Scotiabank lowered the firm’s price target on America Movil to $19 from $19.60 and keeps a Sector Perform rating on the shares. What originally was supposed to be a joint effort between the company and LiLAC has digressed into a situation where only America Movil is funding the joint venture, the analyst tells investors. Only two years after the merger, America Movil is now planning to re-consolidate Chile in Q3 after assuming a 91% stake in ClaroVTR, the firm adds. Scotiabank remains mixed on the stock.