JPMorgan upgraded America Movil (AMX) to Neutral from Underweight with a price target of $21, up from $15. The firm cites the company’s better cash flow outlook and reduced regulatory risks for the upgrade. America Movil’s good execution is driving increased cash flow generation while regulatory risks of receiving free spectrum, which could increase competitive intensity in Mexico, are diminished with changes to the initial telecom reform law, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMX: