Bloomberg News

Grupo Televisa Advances on Merrill 'Buy' Rating

August 05, 2008

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.''

To contact the reporter on this story: Hugh Collins in Mexico City at Hcollins8@bloomberg.net

To contact the editor responsible for this story: Chris Nagi at chrisnagi@bloomberg.net


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