Deutsche Bank Downgrades SCCO, TV from Buy to Hold

Deutsche Bank has downgraded Southern Copper

and Grupo Televisa

from Buy to Hold in a report today, stating, "DB believes iron ore will likely remain in short supply for a few more years, which should sustain the spot price for 62% iron ore landed in China above USD140/t until 2013. On the copper side, the view is that industry challenges, such as rising operating and capital costs, will be reflected in higher LT prices. We also took the opportunity to review key assumptions such as LT growth and discount rates. Following these changes, we revised our forecasts, set new TPs and reduced our recommendations to Hold ratings on SCCO and GMexico." Southern Copper is currently trading down $0.47 from Friday's $31.16 closing price while Grupo Televisa is trading down $0.15 from its $21.27 closing price on Friday.