Disney (DIS): Cutting PT For Multiple Reasons - Nomura

October 14, 2016 10:25 AM EDT
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Price: $93.03 --0%

Rating Summary:
    17 Buy, 22 Hold, 2 Sell

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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.

For an analyst ratings summary and ratings history on Walt Disney click here. For more ratings news on Walt Disney click here.

Shares of Walt Disney closed at $91.12 yesterday.

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