UPDATE: Morgan Stanley Reiterates on Grupo Televisa SAB with Regulatory Change on the Horizon

In a report published Tuesday, Morgan Stanley analyst Michel Morin reiterated an Overweight rating on

, but lowered the price target from $38.00 to $37.00. In the report, Morgan Stanley noted, “We expect Mexico's new regulator to declare by March 9 whether Televisa and/or America Movil have ‘preponderant' market power. If so, the regulator would also announce the measures, if any, it will impose to curb their market power. Although regulatory changes will impact TV's results in 2014, this appears to already be reflected in consensus estimates. Meanwhile, under some scenarios, regulatory action could produce upside relative to current expectations for TV, making for a favorable risk-reward, in our view, ahead of these developments.” Grupo Televisa SAB closed on Monday at $29.31.