Nomura Securities Reiterates Buy on Disney (DIS) Following Shanghai Visit
Get Alerts DIS Hot Sheet
Rating Summary:
30 Buy, 19 Hold, 3 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 44
Join SI Premium – FREE
Nomura Securities reiterated a Buy rating and $115.00 price target on Walt Disney (NYSE: DIS) following a visit to the company's Shanghai location. Nomura believes that the parks' broad appeal will support attractive operating results as it ramps to full capacity.
Analyst Anthony DiClemente commented, "We visited Shanghai Disney earlier this week, and we were impressed. We believe its broad appeal will support attractive Parks operating results as it ramps to full capacity. With concerns around softening subscriber trends and margin compression at ESPN, Disney’s multiple has compressed by ~20% LTM. However, we believe the benefits associated with the Shanghai Resort and the resulting continued diversification away from Cable Networks will be supportive of the Disney narrative. We update our model to attempt to capture the impact of Disney’s Shanghai Resort. In aggregate, we estimate the park could deliver $150mn of EBITDA in 2018 using modest assumptions including single-digit margins and ~18 million attendees."
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 $98.40 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Walt Disney (DIS) PT Raised to $140 at Argus
- Benchmark Starts Airbnb Inc. (ABNB) at Buy (correction)
- Truist Securities Downgrades Arthur J. Gallagher (AJG) to Hold
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
NomuraSign 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!