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Fly News Breaks for November 11, 2019
TV
Nov 11, 2019 | 06:14 EDT
Barclays analyst Gilberto Garcia downgraded Televisa to Underweight from Equal Weight with a price target of $9, down from $11. Following a 50% rally in less than three months, Televisa's risk/reward profile is biased to the downside, Garcia tells investors in a research note. The analyst, who recognizes management's turnaround efforts to date, believes Televisa's long-term challenges are not reflected at current valuation levels. Garcia says underlying trends across all segments "continue to move against the company."
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