In a report published Wednesday, Morgan Stanley reiterated its Equal-Weight rating on Grupo Televisa TV, and raised its price target from $26.00 to $30.00.
Morgan Stanley noted, “Fine tuning estimates post 4Q12. Raising SOTP-based PT to $30/ADR to reflect higher media peer group valuations, as well as a better outlook for Iusacell. We continue to see good long-term value, but with potential regulatory headwinds and only 9% upside to our PT, we remain EW.”
Grupo Televisa closed on Tuesday at $27.63.
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