Market Overview

Bank of America Reiterates Neutral on Grupo Televisa SAB Following Adjusted Forecasts

Related TV
Grupo Televisa Scales a 52-Week High on Favorable Factors
UPDATE: Morgan Stanley Reiterates On Grupo Televisa SAB Following Mixed 2Q14 Results

In a report published Friday, Bank of America analyst Mauricio Fernandes reiterated a Neutral rating and $27.00 price target on Grupo Televisa SAB (NYSE: TV).

In the report, Bank of America noted, “A softer than expected domestic demand in Mexico and the downward revision to our 2013E GDP forecasts (to 2.5% from 2.8%) led us to cut our 2013-15E revenue estimates by an avg. of 1.3%. However, we raise our EBITDA forecasts by 1.1%, on avg., as now we estimate that TV's pay-TV subsidiaries will benefit from savings related to the new ‘must carry and must offer' regulation expected to be implemented by the new telco regulator, IFETEL, from 4Q13. Our EPS forecasts are 8% lower, on avg., to reflect higher losses from Iusacell (mainly related to FX), and a higher contribution to minorities (Table 2). Maintain Neutral.”

Grupo Televisa SAB closed on Wednesday at $24.06.

Posted-In: Bank of America Mauricio FernandesAnalyst Color Reiteration Analyst Ratings

 

Related Articles (TV)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters