America Movil price target lowered to $17.80 from $18.90 at Scotiabank

Scotiabank lowered the firm’s price target on America Movil to $17.80 from $18.90 and keeps a Sector Perform rating on the shares. Given widespread acceleration in video disconnections, Latin America landline companies known in the past for their attractive growth metrics could regress into deflationary stories, the analyst tells investors in a research note. The firm’s preference is for carriers with exposure to the wireless segment as consolidation trends are leading to price restoration and capex rationality in countries such as Brazil, Chile and Colombia. Mexico remains the outlier as wireless competition is deteriorating and the regulatory risk remains high, the analyst tells investors in a research note.