UPDATE: Nomura Initiates Coverage on Disney

In a report published Wednesday, Nomura analyst Anthony DiClemente initiated coverage on The Walt Disney Company DIS with a Buy rating, establishing a $90.00 price target. According to the report, due to its organization's proven ability to monetize marquee content across businesses, we believe Disney is best positioned to manage industry changes that are driven by digital technology. “We believe growth at higher-multiple businesses, in particular ESPN and the theme parks, will drive operating income acceleration in F2014E,” the report noted. “We expect capital returns to also provide a tailwind for the stock, which trades in line with peers although, in our view, it should trade at a premium.” DIS closed Tuesday at $74.45.
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Posted In: Analyst ColorInitiationAnalyst RatingsAnthony DiClementeNomura
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