UPDATE: Morgan Stanley Upgrades Grupo Televisa SAB to Overweight, Raises PT on Attractive Entry Point

In a report published Wednesday, Morgan Stanley analyst Michel Morin upgraded the rating on Grupo Televisa SAB TV from Equal-Weight to Overweight, and raised the price target from $30.00 to $32.00. In the report, Morin noted, “Although we are trimming estimates to reflect weak 1Q13, the recent pullback has created an attractive entry point and we upgrade to OW from EW. We raise our PT to $32/ADR from $30 to reflect higher media peer valuations. We continue to see excellent long-term value in the shares.” Grupo Televisa SAB closed on Tuesday at $25.81.