America Movil stock price target raised to $19.50 from $17.10 at Scotiabank

Investing.com - Scotiabank has raised its price target on America Movil (NYSE:AMX) to $19.50 from $17.10 while maintaining a Sector Perform rating on the telecommunications company. According to InvestingPro data, the stock has delivered an impressive 53% return year-to-date and is currently trading near its 52-week high of $21.68.

The price target adjustment follows America Movil’s third-quarter 2025 earnings call, which Scotiabank described as notably brief at just over 30 minutes. The company expects Colombia’s EBITDA growth to accelerate by 200 basis points next year as it provisions for certain tax and regulatory items. The company maintains strong fundamentals with a 62% gross profit margin and has consistently paid dividends for 25 consecutive years.

America Movil expressed confidence in its Mexican network superiority despite Walmex’s Bait launching postpaid plans. The company also reported improved postpaid performance in Chile and noted that integration efforts with VTR are leading to better margins.

Scotiabank identified several potential headwinds for America Movil, including likely regulatory changes in Mexico that could boost government presence in the wireless segment, new market entrants in Paraguay, Ecuador, Uruguay and Nicaragua, and increasing competition from Starlink in the broadband sector.

The firm maintained its Sector Perform rating with a target of MXN 18.0 per B share, equivalent to US$19.50 per ADR, noting that "as bonds pay more than equity, we stay on the sidelines." With an EV/EBITDA ratio of 5.77 and a solid financial health score rated as "GOOD" by InvestingPro, investors can access detailed valuation analysis and 12 additional ProTips with a subscription.

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