Walt Disney Upgraded to “Buy” at Goldman Sachs (DIS)

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Entertainment giant The Walt Disney Company ( DIS ) saw its rating, price target, and earnings estimates all upgraded on Tuesday by analysts at Goldman Sachs.

The firm boosted its rating on DIS to "Buy" from "Neutral," while raising its price target to $42 from $33. That new target represents a 26% upside to DIS' Monday closing price of $33.22.

Goldman also boosted its EPS estimates for the company by 2-14%, noting that upcoming films should add to consumer products licensing revenue, its theme parks are seeing some recovery, and box office revenues are trending higher overseas.

Disney shares rose 13 cents, or +3.4%, in premarket trading Tuesday.

The Bottom Line
We recently removed shares of DIS from our recommended list, when the stock was trading at $37.04. The company has a 1.05% dividend yield, based on last night's closing stock price of $34.02. The stock has technical support in the $30 price area. If the shares can firm up, we see overhead resistance around the $36-$37 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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