Deutsche Bank Backs its "Buy" Rating on Disney; Raises Price Target (DIS)

Deutsche Bank Backs its “Buy” Rating on Disney; Raises Price Target (DIS)


On Wednesday Deutsche Bank analyst reiterated its rating and raised its price target on entertainment giant The Walt Disney Company (DIS) as the company is in a position to see healthy growth in 2013.

The analysts raised DIS price target from $56 to $58, which suggests a +13% upside to Wednesday’s opening price of $51.27. The firm maintained a “Buy” rating on Disney.

Deutsche Bank commented, “After reviewing trends our F1QE EPS of $0.77 remains unchanged (Street $0.77), and we believe Disney will report in line-to-ahead with ESPN ad sales improving later in F1Q, Park trends seemingly remaining healthy, Wreck It Ralph doing well int’l, and in particular given mgmt’s early Dec positive commentary around F1Q (better ESPN ad revenue) when typically negative datapoints would be offered if the Street was too high. Perhaps more importantly, investors will turn from the challenged F1Q13 to healthy CY13 growth.”

Disney shares were up slightly during morning trading on Wednesday. The stock is up +33.75% over the past year.

The Bottom Line
Shares of Walt Disney (DIS) have a 1.47% dividend yield, based on last night’s closing stock price of $51.09. The stock has technical support in the $48 price area. The shares are trading near all-time highs.

The Walt Disney Company (DIS) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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