Disney’s Price Target Cut at Citigroup (DIS)

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Entertainment giant The Walt Disney Company ( DIS ) on Friday saw its price target lowered by analysts at Citigroup.

The firm said it cut its target on DIS from $39 to $37. That new target suggests a smaller 14% upside to the stock's Thursday closing price of $32.55. Citigroup also maintained its "Hold" rating.

Despite the negative analyst call, Disney shares rose 34 cents, or +1%, in premarket trading Friday. The stock has fallen around 13% year-to-date.

The Bottom Line
Shares of Walt Disney ( DIS ) have a 1.23% dividend yield, based on last night's closing stock price of $32.55. The stock has technical support in the $28-$30 price area. If the shares can firm up, we see overhead resistance around the $34-$36 price levels.

The Walt Disney Company ( DIS ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 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 .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: DIS

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