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Deutsche Bank increases its price target from $48 to $53 on Walt Disney
DIS to reflect the company's quality portfolio.
Deutsche Bank notes, "Disney has favorable dynamics such as 59% of EBIT from cable networks, limited secular growth concerns (focused on kids, live sports, LT deals), strong competitive positions, leading global brands, strategically complete, and excellent B/S & governance, trading at a narrower premium to the S&P500 P/E than usual (DIS at 12.8x ‘13E)."
DIS closed at $43.08 on Friday.
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