Televisa downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley analyst Cesar Medina downgraded Televisa to Equal Weight from Overweight with a price target of $4, down from $7. The analyst sees execution risks given the limited details on the company’s turnaround plans. The stock’s valuation remains attractive but there limited short-term catalysts could delay a re-rating, the analyst tells investors in a research note.