Entertainment giant The Walt Disney Company (
) 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
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 (
) 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