UPDATE: Wunderlich Securities Reiterates On The Walt Disney Company As Fiscal 2015 Film Consensus May Be Conservative

In a report published Monday, Wunderlich Securities analyst Matthew Harrigan reiterated a Hold rating on

, and raised the price target from $83.00 to $88.00. In the report, Wunderlich Securities noted, “Marvel's Guardians of the Galaxy alternative universe/comedic sci-fi project generated an even better than expected $94mm opening domestically, with $160.4mm globally despite opening across only 50% of territories. Disney (DIS) is already planning a July 2017 sequel for the $170mm cost film, which epitomizes CEO Bob Iger's cross-business tentpole strategy. Although we are still modeling a slight (5.5%) decrease in F2015 film profit against Frozen comps even with The Avengers: Age of Ultron, we do have the studio earning $1.25B (likely the highest estimate on the Street). We value the studio at a similarly likely Street high $20.5B. We are increasing our S&P 500 linked F2015 DIS target to $88 from $83, largely off a higher 2000 S&P 500 bogey and secondarily a $1.4B hike in studio valuation.” The Walt Disney Company closed on Friday at $85.38.