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In a report published Monday, Topeka Capital Markets analyst David Miller upgraded shares of
The Walt Disney CompanyDIS from Hold to Buy and raised the price target from $78.00 to $91.00 prior to the company's earnings call.
Miller noted that “now is the time to get constructive”, following a 16.4 percent growth over F2015. The analyst emphasized that shares are trading at 14.6x Topeka's non-GAAP EPS estimate of $5.40 per share and the company has a “reasonable” multiple. Miller wrote, “With that, putting new money to work at a multiple of F2016 prospects, while not exactly super-juicy, is compelling enough for us to improve our rating.”
Shares of Disney closed at $80.31 on Friday.
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