Scotiabank analyst Andres Coello raised the firm’s price target on America Movil (AMX) to $21.80 from $19.50 and keeps a Sector Perform rating on the shares. The firm is updating its price targets for LatAm Telecom stocks under its coverage, the analyst tells investors. The firm continues to focus on equity free cash flow generation as the main valuation metric across services given limited growth potential and saturation.
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