America Movil SAB de CV ADR - Series B
AMX: XNYS (USA)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| $19.00 | Flzbw | Mssjlsxq |
America Movil Continues to Post Solid Results Amid Economic Uncertainty
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America Movil continues to post solid results, with nice growth in both Mexico and Brazil. We are moving our fair value estimate back to $21 per ADR. Our estimate had mechanically adjusted lower following completion of the Sitios Latinamerica spinoff. The continued strength of the Mexican peso, Movil’s strong performance, and the transfer of debt to Sitios largely offsets the value of the tower firm. We continue to like Movil, but the shares are trading much closer to our fair value estimate than many other telecom stocks in the U.S. and Latin America.