UPDATE: Morgan Stanley Reiterates Overweight on Walt Disney; Raises PT from $51 to $56

Morgan Stanley reiterated an Overweight rating on Walt Disney DIS and increased its price target from $51 to $56. Morgan Stanley wrote, “We raise our PT to $56 as we roll forward to midyear '13, and modestly raise ‘12/'13 estimates. We see further upside in earnings from here (parks margins, film/cp, and buybacks), with a bull case of ~$4.70 EPS in FY14 leading to a mid $60's valuation.” Walt Disney closed at $49.71 on Thursday.