Nomura Securities Maintains a 'Buy' on Walt Disney (DIS); F4Q Review

Nomura Securities maintains a 'Buy' on Walt Disney (NYSE: DIS) price target increased $5 to $43.

Nomura analyst, Michael Nathanson, said, "After two unspectacular quarters, Disney rewarded shareholders who kept the faith, finishing FY11 off on a high note with F4Q adj. EPS of $0.59 (+$0.06 vs our estimate and +$0.05 vs consensus). The 13% EBIT beat was broad across all segments except Interactive (in line). Revenue also came in better with growth of 7.0% (vs 5.2% estimate) led by higher Broadcast and Cable Networks offset by a larger decline at Studio. For FY12, we are raising our EPS estimates $0.02 to $2.96. We believe that today’s results are indicative of Disney’s ability to return to its earnings beating ways of yesteryear. We are raising our price target to $43 (from $38) with higher CY12 estimates and increased market multiple."

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 $34.64 yesterday.

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