Target price lowered

Promoter and Operadora de Infraestructura, a toll road operator also known as Pinfra, received a change in the target price of its shares from 211 to 203 pesos from Citibanamex.

Analysts at the Mexican subsidiary of US bank Citigroup lowered the target price for Pinfra shares, after reporting lower-than-expected EBITDA during the third quarter of this year.

At the same time, Citibanamex experts decided to maintain the buy recommendation for Pinfra shares.

America Movil, the largest telecommunications company in Latin America, received approval from its owners to double its share buyback fund, after almost fully using what was originally approved.

The company’s fund went from 25,000 million to 51,000 million pesos, equivalent to approximately 4% of its market capitalization on the Stock Market.

At the end of November 19, the owner of Telcel had already used more than 98% of the funds that its owners had approved in April.

The new resources will be valid until the next ordinary annual meeting in April 2022.

So far this year, América Móvil has acquired more own shares than during the previous six years combined.

The acquisition of own securities serves companies to reward shareholders, including with tax benefits – by avoiding the taxes that dividends imply – or as a tool to stabilize the price of shares. The shares of the Mexican market continue to be undervalued, which has led several companies to more actively exercise their repurchase fund or even acquire their papers and exit the market.

In the October meeting with investors and analysts, the telecommunications firm estimated that it would give its owners $ 3 billion in dividends and buybacks. This year the company has already paid a dividend of 0.4 pesos for each outstanding share.

América Móvil also received approval from its owners for the incorporation of Claudia Jáñez Sánchez and Gisselle Morán Jiménez to its board of directors as independent members, so that the governing body has 15 members.

Samsung plans build a plant for the production of semiconductors or chips in the city of Taylor, Texas, which will represent an investment of approximately 17,000 million dollars.

The Taylor factory, located in central Texas, will generate about 1,800 jobs, although chip production is expected to begin until 2024, according to documents Samsung previously sent to state authorities.

Samsung, the world’s largest semiconductor maker by revenue, plans to invest more than $ 205 billion over the next three years, with chip manufacturing a priority.

Cubbo, a An e-commerce platform of Colombian origin, it raised close to 4 million dollars in a seed investment round led by the SV Latam Capital fund.

The resources will serve to consolidate Cubbo’s operation in Bogotá, Colombia, where it entered this month after its debut in Mexico City.

The round attracted other investors from Silicon Valley and Latin America, such as Bragiel Brothers of San Francisco and BluStone, a fund based in Brazil.

Next year, Cubbo plans to expand to Sao Paulo, Brazil, and Chile. In 2023, it foresees openings in Peru, Argentina and other countries in the region.

Enrique Bojorquez Valenzuela, president of the Mexican Association of Specialized Financial Entities (AMFE), and Wilfrido Perea, director of Financial Education of the Condusef, presented the integral platform of Financial Education of free access on the website

With access from any computer, tablet or mobile phone, the platform offers information, advice on how to budget and get better performance and use of savings, credit, investment, insurance and retirement products.

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