Deutsche Bank Reaffirms “Buy” Rating, Raises Price Target on Walt Disney (DIS)
On Monday analysts at Deutsche Bank raised the price target on media and entertainment giant The Walt Disney Company (DIS) due to a strong outlook.
The analysts maintain a “Buy” rating on Disney and raised its price target from $58 to $63. This new valuation suggests a 16% upside to Friday’s closing price of $54.59.
A Deutsche Bank analyst commented, “Disney has 65% of EBIT from networks, limited secular growth concerns (focused on non-ad supported kids, live sports), very strong competitive positions, leading global brands, strategically complete, and excellent B/S & governance. We see 17% upside to our new $63 target (15x ‘14E P/E).”
Disney shares were down 35 cents, or -0.64%, during morning trading on Monday. The stock is up +35.55% over the past year.
The Bottom Line
Shares of Walt Disney (DIS) have a dividend yield of 1.38% based on Monday’s intraday trading price of $54.20.
The Walt Disney Company (DIS) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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