Analysts at UBS on Friday lowered their price target and earnings estimates for entertainment giant The Walt Disney Company ( DIS ).
The firm said it now expects DIS shares to reach $35, suggesting a smaller 6% upside to the stock's Thursday closing price of $32.94.
UBS also maintained its "Neutral" rating on DIS but cut its earnings estimates, citing mixed demand at the company's theme parks.
Disney shares were unchanged in premarket trading Friday.
The Bottom Line
Shares of Walt Disney ( DIS ) have a 1.21% dividend yield, based on last night's closing stock price of $32.94. The stock has technical support in the $29-$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 Dividend.com DARS™ Rating of 3.1 out of 5 stars.
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