America Movil downgraded to Neutral at Citi following 36% bounce

Citi analyst Andres Cardona downgraded America Movil to Neutral from Buy with an unchanged price target of $23.50. The firm continue to call America Movil "a good fit for investors in a world of high inflation, higher rates, and slower growth," but sees limited upside after a 36% bounce in share price from mid-September.