Piper Jaffray Bullish on Walt Disney (DIS) Into Next Week's Print

August 5, 2016 12:19 PM EDT
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Price: $107.12 -0.5%

Rating Summary:
    21 Buy, 17 Hold, 3 Sell

Rating Trend: = Flat

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    Up: 1 | Down: 2 | New: 3
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Piper Jaffray analyst Stan Meyers is positive on Walt Disney (NYSE: DIS) into Q3 results on Tuesday, 8/9. The analyst expects the company's results to come in slightly ahead on revenues and EPS.

Meyers said the quarter should be positively impacted by: (1) solid box office across The Jungle Book, Captain America and Finding Dory; (2) Star Wars' robust home video sales; (3) strong NBA Playoffs ratings (Game 7 drew over 31M viewers, setting a record for ABC); (4) Solid merchandise sales (NPD reported Q2 toy sales were up over 7%); (5) Some top-line growth from Shanghai opening (1M attendees in the first month).

On the negative side, they expect a few negative items to modestly impact the quarter including the underperformance of Alice 2 and shift of the Easter Holiday to F2Q.

The firm reiterated an Overweight rating and price target of $120 into the print.

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 $95.16 yesterday.

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