Televisa downgraded to Neutral from Buy at UBS

UBS analyst Leonardo Olmos downgraded Televisa to Neutral from Buy with a price target of $6, down from $8.80. The company has shown superior capital discipline versus competitors, but its margin and growth momentum "should remain weak" in 2023, the analyst tells investors in a research note. The firm sees a "bumpy road ahead" for Televisa despite the company’s "strong" balance sheet.