Corporate Moment / Televisa Group, greater financial flexibility – El Sol de México

JP Morgan granted the Overweight recommendation for the shares of the company chaired by Emilio Azcárraga Jean due to the company’s operational improvement and an attractive valuation. And in fact in the best scenario, the securities have a growth potential of up to 118% compared to current levels. The international brokerage anticipated that operating performance will be increasingly positive in the coming quarters, and at the same time, the securities offer an attractive valuation due to the balance between risk and reward considering the bullish and bearish scenarios that it used for the cable and content of the company, although at the same time he recognized that there are risks due to the company’s leverage. And precisely in this last aspect, Grupo Televisa recently announced that it obtained a simple loan for 10 billion pesos, and a revolving credit line equivalent to 500 million dollars, both for a term of five years, and the resources will be used to debt refinancing and for general corporate purposes. In this regard, the GBM analysis team highlighted that after the sale of the content business in 2022 for 4.8 billion dollars, Grupo Televisa significantly reduced its debt, and at the same time extended the maturity dates of its liabilities, movements which has given ample financial flexibility to operations. For its part, Citi, which has a buy recommendation for Grupo Televisa shares, updated its model with new macroeconomic estimates and some operational adjustments that validate its target price of 4.5 dollars per ADR, and an additional effect of 1.5 dollars per ADR per the possible synergies of the merger of Sky with izzi, in the most positive scenario for the company.

Attractive destination

Within the framework of the Tianguis Turístico 2024, the Los Cabos Tourism Trust (Fiturca), directed by Rodrigo Esponda, will be one of the most active. And, together with 25 business partners, they have scheduled more than 900 meetings with tour operators, travel agencies, airlines and even other tourist destinations in the country in search of synergies with Los Cabos and the tourist region of Baja California Sur. In addition, the relevant tourist meeting will serve as a stage to present the various Fiturca initiatives to differentiate the destination from other beaches or resorts in the country, in terms of sustainability, connectivity and innovation, and which have been recognized inside and outside of Mexico. And in fact Los Cabos obtained 3 recognitions in the “Choice Awards Best of the Best”, from Tripadvisor, an online travel platform that works with reviews and experiences shared by travelers, for Medano, Chileno and Cabo San Lucas, which are located within the top 10 of “Best of the best beaches” on Tripadvisor.


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