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Bernstein Sees 'Hidden Value' in Disney Based on Strength in A&E TV Networks

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Shares of Disney (NYSE: DIS) are getting a bit of a boost Wednesday following some seemingly bullish comments from Bernstein's Todd Juenger a little earlier. The stock last traded at $75.12, up about 1.2 percent from Tuesday's closing price.

Juenger believes the market is not currently fully pricing into Disney shares the value of the company's A&E TV Networks. Assuming an enterprise value over $23 billion for A&E TV Networks, the Bernstein analyst believes Disney's 50 percent stake could be valued at around $6 per share.

Juenger noted A&E TV Networks generated nearly $4 billion in annual cable network sales, a figure which, based on US sales, is stronger than what he calls high-profile networks like CBS (NYSE: CBS), AMC Networks (NASDAQ: AMCX) , Scripps (NYSE: SNI) and Discovery (NASDAQ: DISCA).

Bernstein currently rates Disney shares with an Outperform rating and $82 price target.

Latest Ratings for DIS

DateFirmActionFromTo
Dec 2014Topeka CapitalDowngradesBuyHold
Dec 2014UBSInitiates Coverage onBuy
Nov 2014BarclaysMaintainsEqual-weight

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