UPDATE: Stifel Raises Walt Disney Company PT on Increased Interest in Infinity

In a note published Friday, Stifel analyst Drew Crum maintained a Buy rating and raised the price target on The Walt Disney Company

from $72.00 to $76.00 and FY2014 earnings estimates from 3.95 to 4.01. Crum updated estimates based on share buybacks and positive performance contributions from Infinity and noted, “CFO Jay Rasulo indicated that the company is targeting $6 billion-$8 billion in share repurchases for FY14 which represents a significant acceleration over LTM ($3.67 billion) and our previous forecast ($4.08 billion).” Crum also suggested that Infinity may successfully aid Disney's interactive business after Infinity reported $37 million in retail sales in two weeks. Stifel kept FY2013 estimates of $3.37 while raising FY2014 estimates from $3.95 to $4.01 and FY2015 estimates from $4.56 to $4.70. DIS closed at $65.49 on Thursday.