UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT on The Walt Disney Company

In a report published Monday, Deutsche Bank reiterated its Buy rating on The Walt Disney Company

, and raised its price target from $58.00 to $63.00. Deutsche Bank noted, “Disney has 65% of EBIT from networks, limited secular growth concerns (focused on non-ad supported kids, live sports), very strong competitive positions, leading global brands, strategically complete, and excellent B/S & governance. We see 17% upside to our new $63 target (15x ‘14E P/E).” The Walt Disney Company closed on Friday at $54.59.