UPDATE: Credit Suisse Raises PT to $58 on The Walt disney Company on Margin Improvement
Credit Suisse reiterated its Outperform rating on The Walt Disney Company (NYSE: DIS) and raised its price target from $56 to $58.
Credit Suisse said, "Heading into FY13, we expect more pronounced margin improvement in Parks. Based on a bottoms-up analysis of key individual projects including the Aulani resort, the Art of Animation hotel, cruises, and Cars Land, we expect recent investments to turn from break-even to generating ~$225m in profit in FY13. In turn, we expect FY13 Park EBIT margin of 16.1% vs. 14.8%, up from our prior estimate of 15.2%."
The Walt Disney Company closed at $52.70 on Wednesday.
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