Televisa downgraded to Neutral from Overweight at JPMorgan

JPMorgan downgraded Televisa (TV) to Neutral from Overweight without a price target While the stock’s valuation remains discounted, the thesis that there were short-term catalysts that would unlock value no longer holds, the analyst tells investors in a research note. The firm says Televisa’s Mexican broadband additions should remain at very low levels, in part due to increased competition, while its Mexican operating segment margin should contract in 2025 as Sky drags results.