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America Movil +1.9% as Morgan Stanley likes Mexico, Brazil telecoms

Published 08/10/2017, 02:35 PM
© Reuters.  America Movil +1.9% as Morgan Stanley likes Mexico, Brazil telecoms
  • America Movil (AMX +1.9%) has moved up after an upgrade from Morgan Stanley (NYSE:MS), which is favoring telecom markets in Mexico and Brazil over those in Peru and Colombia.
  • "A sequential macro recovery, and more accessible telco services, should boost the consumption of value added services (e.g. one more day of access to social media) or potential upgrade from prepaid to postpaid wireless," the firm says in a detailed report on Latin American telecom.
  • America Movil and Brazil's TIM Participações (TSU -0.6%) are its top picks in a rubric that ranged across companies' product, geography, and profitability measures. TIM gets the nod in Brazil over Telefonica (MC:TEF) Brasil (VIV -1.2%), rated at Equal Weight.
  • It's set a price target of $21 on AMX, implying 17.4% upside from today's higher price.
  • Meanwhile, Morgan Stanley downgraded Telecom Argentina (TEO -1.6%) and Grupo Televisa (TV -0.8%) to Equal Weight, and Liberty Global (NASDAQ:LBTYA) LiLAC (OTCPK:LILAB) to Underweight.
  • Now read: The Hidden Dragon Within China Mobile

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