Goldman Sachs, Morgan Stanley Get Less Bullish on Walt Disney (DIS)


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Entertainment giant The Walt Disney Company ( DIS ) on Thursday saw two major analysts get a bit more bearish on its shares.

Goldman Sachs cut its rating on DIS from "Buy" to "Neutral" while removing the stock from its prestigious "Conviction Buy" List. The firm's $35 price target suggests an 11% upside to the stock's Wednesday closing price of $31.54.

Meanwhile, analysts at Morgan Stanley cut their price target on DIS to $42, suggesting a smaller 33% upside. The firm maintained its "Overweight" rating, but noted DIS is seeing lower margins.

Walt Disney shares were mostly flat in premarket trading Thursday.

The Bottom Line
Shares of Walt Disney ( DIS ) have a 1.27% dividend yield, based on last night's closing stock price of $31.54. 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 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 Nasdaq, Inc.

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This article appears in: Investing , Stocks

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