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Disney’s Price Target Cut at Piper Jaffray (DIS)

Entertainment giant The Walt Disney Company ( DIS ) on Wednesday saw its price target lowered by analysts at Piper Jaffray.

The firm maintained its "Neutral" rating on DIS but cut its price target from $42 to $37. That new target suggests a smaller 19% upside to the stock's Tuesday closing price of $31.16.

Disney shares, which have fallen nearly 17% year-to-date, were unchanged in premarket trading Wednesday.

The Bottom Line

Shares of Walt Disney ( DIS ) have a 1.28% dividend yield, based on last night's closing stock price of $31.16. The stock has technical support in the $27-$28 price area. If the shares can firm up, we see overhead resistance around the $34 price level.

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 Nasdaq, Inc.

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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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