Pivotal Research Downgrades Walt Disney (DIS) to Hold
- Wall Street again marks new highs in post-election run
- Broadcom Ltd. (AVGO) Tops Q4 EPS by 11c
- Restoration Hardware (RH) Tops Q3 EPS by 4c; Guides Well Below the Street
- Unusual 11 Mid-Day Movers 12/8: (COOL) (TLRD) (DRAM) Higher; (SHIP) (OHRP) (MLSS) Lower
- After-Hours Stock Movers 12/08: (FNSR) (AVGO) (GLPG) Higher; (XTLY) (RH) (DLTH) Lower (more...)
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Pivotal Research downgraded Walt Disney (NYSE: DIS) from Buy to Hold with a price target of $102.00 (from $108.00). The change followed disappointed Q4 results.
"Disney reported fiscal 4Q16 (calendar 3Q16) earnings yesterday. Results were primarily down because of Disney’s fiscal calendar, which led to one fewer week vs. the year-ago period. However, there was also more underlying softness than we expected in cable advertising, consumer products, the parks and the studio. With caution applied to several areas for the coming quarter, the flow-through effects to our model cause us to reduce our price target to $102 from $108. As this price is within 15% of current trading levels, we reduce our recommendation on Disney from Buy to Hold," said analyst Brian Wieser.
Shares of Walt Disney closed at $94.96 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- MKM Partners Raises Price Target on Ciena (CIEN) to $30 Following 4Q
- lululemon athletica (LULU): Skeptics Are Quieter - Wedbush
- BMO Capital Cuts Price Target on Comtech Telecom (CMTL) to $16 Following 1Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
Sign 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!