Disney (DIS): Cutting PT For Multiple Reasons - Nomura
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Nomura Securities analyst, Anthony DiClemente, reiterated his Buy rating on shares of Walt Disney (NYSE: DIS) ahead of Disney’s F4Q16 earnings on 11/10.
The analyst modestly cut estimates, not only to better capture the impact of the extra week in the prior year’s quarter, but also to factor in TV ratings declines. The revisions are modestly offset by operational efficiencies and resilient trends at Parks.
F4Q16 and FY17 EPS estimates go to $1.13 and $6.00, from $1.17 and $6.10. The target price is also reduced to $110, from $115, based on the new SOTP valuation and CY17 P/E target multiple of 18x.
Shares of Walt Disney closed at $91.12 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Drexel Hamilton Raises Price Target on Workday (WDAY) Following 3Q Beat
- Oppenheimer Cuts Price Target on Workday (WDAY) Following 3Q; Reiterates Outperform
- Mizuho Securities Adjusts Estimates Following Gap, Inc. (GPS) Comp Miss
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesNomura, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!