UPDATE: Wunderlich Securities Increases Walt Disney's PT
According to a research report published earlier today, Wunderlich Securities is increasing Walt Disney Co.'s (NYSE: DIS) PT from $39 to $43 before tonight's FQ1 earnings release.
In the report, Wunderlich Securities explained the decision, “The increase is largely dictated by an increase in our S&P 500 assumption to 1350 that underlies our relative valuation model. Disney likely has the best long-term growth profile of any of the studio network houses, but has the most exposure to the global macro through advertising and park attendance cyclicality as well as a capital investment cycle that constrains free cash flow relative to peers. We look for an overall quiet FQ1, with sales up 3.3% to $11,076mm and adjusted EPS of $0.68 flat with last year.”
Wunderlich Securities maintains its Hold rating on Walt Disney, which closed yesterday at $40.46.
