Grupo Televisa SAB (TLEVICPO), the largest Mexican broadcaster, jumped in Mexico City trading after Merrill Lynch & Co upgraded it to ``buy'' from ``neutral,'' saying its size will help it contend with a slowing economy.
Televisa rose 3.7 percent to 44.88 pesos, the biggest gain in almost three weeks.
``As the highest quality, largest cap Latam media stock, TV is likely to outperform peers in a difficult environment,'' Merrill Lynch analysts including Michael Kopelman wrote in a research note to clients. The company's ``high returns on capital, durable barriers to entry and solid growth prospects warrant a premium valuation.''
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