Scotiabank reduced América Móvil’s price target citing diminished global risk premiums for equities over bonds in LatAm telecom.
Scotiabank lowered its price target for América Móvil (AMX) to $20.80 from $21.80 while maintaining a Sector Perform rating. The adjustment reflects a reduced global risk premium for holding stocks versus bonds, impacting LatAm telecom valuations.
América Móvil reported Q1 2026 wireless subscriber growth of 3.0 million, all postpaid, offsetting a 90 thousand prepaid decline. Mobile service revenue rose 6.4% year-on-year, with postpaid revenue up 7.3%. Quarterly revenue reached 237 billion Mexican pesos, a 2.1% increase in local currency terms.
The firm operates across Mexico, Brazil, Colombia, and other regions, with segments including wireless, fixed, and international markets.