Morgan Stanley Reiterates Overweight, $44 Target on Walt Disney

Morgan Stanley maintains its Overweight rating and $44 target price on Walt Disney

as the company is at the high end of its sector heading into 2012. Morgan Stanley comments, “We remain OW as DIS offers investors 10% annual EBIT growth, at the high end of the sector, with a P/E largely in line. We are modestly ahead of consensus over the next two years, with the timing of ESPN renewals and modest assumptions on incremental Parks margins giving us confidence.” DIS closed at $36.33 per share on Tuesday.