Scotiabank lowered the firm’s price target on America Movil (AMX) to $13.70 from $17.30 and keeps a Sector Perform rating on the shares. The trouble with the investment thesis is the equity yield for the stock is less than what the AMXLMM 2023 bond pays, the analyst tells investors. Additionally, recent macro turmoil in Colombia, Mexico, and Panama shows how vulnerable the region is to U.S. trade policy, the firm adds.
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