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Barclays Raises Estimates on DreamWorks Animation (DWA); Valuation Keeps Us At 'Underweight'

June 11, 2012 2:18 PM EDT Send to a Friend
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Price: $21.65 -1.28%

Rating Summary:
    2 Buy, 8 Hold, 7 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 9 | New: 0
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Barclays maintains an 'Underweight' on DreamWorks Animation (NASDAQ: DWA) price target of $15.00.

Analyst, Anthony DiClemente, said, "...While the weekend take fell just short of Madagascar 2's $63M haul in 2008, it was still a very impressive result (Mad 3 hauled in $60.4 million). We are therefore raising our 2012 EPS estimate slightly to reflect higher expected worldwide box office revenues for Madagascar 3. However, our $15 price target remains unchanged, as we believe the stock's current P/E multiple of 19.0x is still expensive relative to the group, which trades at 13.6x 2012 EPS."

Despite the Underweight rating, DiClemente raises FY12 EPS estimates from $0.93 to $0.95, maintains FY13 EPS at $1.04.

For an analyst ratings summary and ratings history on DreamWorks Animation click here. For more ratings news on DreamWorks Animation click here.

Shares of DreamWorks Animation closed at $18.01 yesterday.




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