Scotiabank Cuts PT on América Móvil (AMX) – Here’s Why

Scotiabank Cuts PT on América Móvil (AMX) – Here’s Why Noor Ul Ain Rehman Sun, June 28, 2026 at 2:10 AM GMT+7 2 min read BNS.TO AMX América Móvil, S.A.B. de C.V. (NYSE:AMX) is one of the best low volatility stocks to buy under $50. Scotiabank cut the price target on América Móvil, S.A.B. de C.V. (NYSE:AMX) to $20.80 from $21.80 on May 27 and maintained a Sector Perform rating on the shares, telling investors that the firm updated its price targets for Lat Am Telecom stocks under its coverage. It further stated that the global risk premium for holding stocks versus bonds has diminished, and the LatAm telecom sector is no exception.

For reference, in its financial results for fiscal Q1 2026, América Móvil, S.A.B. de C.V. (NYSE:AMX) reported that it added 3.0 million wireless subscribers in the quarter, all of them postpaid, having disconnected 90 thousand prepaid subscribers. Mobile service revenue growth for the quarter reached 6.4% year-on-year, with prepaid revenue expanding 5.0% and postpaid revenue 7.3%. It added that fiscal Q1 revenue was 2.1% higher than a year ago in Mexican peso terms, to 237 billion Mexican pesos.

América Móvil, S.A.B. de C.V. (NYSE:AMX) is involved in the provision of telecommunications services. The company's operations are divided into the following segments: Mexico Wireless, Mexico Fixed, Brazil, Colombia, Southern Cone (Argentina, Chile, Paraguay and Uruguay), Andean Region (Ecuador and Peru), Central America (Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama), the Caribbean (the Dominican Republic and Puerto Rico) and Europe (Austria, Belarus, Bulgaria, Croatia, Macedonia, Serbia and Slovenia).