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Mexico: Grupo Televisa lifted to buy at Zacks Investment

By  |  January 14, 2016

Zacks Investment Research upgraded shares of Grupo Televisa SAB from a sell rating to a buy rating in a research report report published on Monday morning, Analyst Ratings.Net reported. The firm currently has $28.00 price objective on the stock.

According to Zacks, “Grupo Televisa reported mixed financial results in third-quarter 2015 wherein the bottom line steered past the Zacks Consensus Estimate while the top line missed the same. Televisa is likely to gain significantly from its ownership stake in U.S. broadcaster Univision. The company also fortified its strategic alliance with Univision by extending their Program Licensing Agreement. Further, opportunities in the highly lucrative U.S. Hispanic TV market, which is growing at a remarkable pace, bodes well. However, the Mexican telecom regulator has identified Televisa as a dominant player in the broadcast TV market. For this reason, the company may face several stringent regulatory measures, going ahead. Further, intensifying competition in its core pay-TV market poses near-term concern for the company.”

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