Needham & Company Maintains a 'Hold' on Walt Disney (DIS); Is DIS a Good Place to Hide?

Needham & Company maintains a 'Hold' on Walt Disney (NYSE: DIS).

Needham analyst says, "The debt crisis in Europe and brinkmanship over the debt ceiling in Washington DC, coupled with S&P’s US-debt downgrade, are generating volatility in markets and threatening to undermine consumer spending. Is DIS a good place to hide in downwardly-sloping markets?...Disney (DIS) is one of the most defensive media stocks in our media coverage in periods of deteriorating markets. Its unlevered beta is 1.2. Its levered beta is 1.4. Both of these numbers suggest slightly greater downside risk than market averages in a declining tape, but are toward the low end of media stocks. Finally, from a practical point of view, DIS is typically one of the best (although it underperforms the S&P 500) during the past 3 periods of market disruption."

For more ratings news on Walt Disney click here and for the rating history of Walt Disney click here.

Shares of Walt Disney closed at $32.46 yesterday.

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