Disney’s Target Boosted at Citigroup (DIS)

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

The firm said it raised its target for DIS to $39 from $37. That new target represents an expected 13% upside to the stock's Thursday closing price of $34.85.

Citigroup noted the company is a late cycle media play, and left its "Hold" rating unchanged.

Disney shares were mostly flat in premarket trading Friday.

The Bottom Line
We had removed shares of DIS from our recommended list on Apr.27, when the stock was trading at $37.04. The company has a 1.00% dividend yield, based on last night's closing stock price of $34.85. The stock has technical support in the $31-$32 price area. If the shares can build on today's news, we see overhead resistance around the $36-$38 price levels. We would remain on the sidelines for now.

The Walt Disney Company( DIS ) is not recommended at this time, holding a Dividend.com 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 .



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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