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In a report published Wednesday, Topeka Capital Markets analyst David W. Miller downgraded the rating on
The Walt Disney Co.DIS from Buy to Hold, but reiterated the $97.00 price target.
In the report, Topeka Capital Markets noted, “With a +21.7% uptick for the year, which easily outperforms both the S&P 500 and the Dow (DIS is a Dow component), we believe it's time to re-assess the risk quotient in DIS, and so we are cutting our rating on DIS from Buy to Hold. Besides valuation, we are somewhat concerned by how the strong U.S. dollar (USD) will affect Park attendance at the Orlando complex, not in the near term, but over the next fiscal year and into F2016. Our price target stays at $97.00, representing only 4.3% upside in the stock from yesterday's close.”
The Walt Disney Co. closed on Tuesday at $92.94.
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