UPDATE: Wunderlich Securities Reiterates Hold Rating, Raises PT on The Walt Disney Company
In a report published Monday, Wunderlich Securities reiterated its Hold rating on The Walt Disney Company (NYSE: DIS), and raised its price target from $50.00 to $58.00.
Wunderlich Securities noted, “We are increasing our price target on Hold-rated Walt Disney (DIS) to $58 from $50, largely off now emphasized fiscal 2014. We regard Disney's business portfolio as the best in media, although even with the wind-down (at least sans Shanghai) of the capital investment cycle the economy presents dangers during what management characterizes as a transitional year. A continued market rally/strong economy would support a $67 target, while a recession/1350 SPX would reduce fair value to $48. Moving into tomorrow's post close earnings, FQ1 has been clearly marked as the nadir for F2013 operating performance, with momentum at parks and broadcast not nearly enough to offset an impossible studio comparison and revenue/cost timing issues for ESPN.”
The Walt Disney Company closed on Friday at $54.59.
Latest Ratings for DIS
|May 2016||Credit Suisse||Maintains||Outperform|
|Apr 2016||Pivotal Research||Upgrades||Hold||Buy|
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