UBS Maintains a 'Neutral' on Walt Disney (DIS); Adjusting PT & Estimates After Solid Quarter

May 9, 2012 12:04 PM EDT Send to a Friend
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UBS maintains a 'Neutral' on Walt Disney (NYSE: DIS) price target raised from $42 to $46.

Analyst, John Janedis, said, "Q2 revenue of $9.63B was slightly below our $9.66B (Street: $9.60B), while segment EBIT of $1.95B was slightly ahead of our $1.92B (Street: $1.82B). Total company margins were 40bps better than expected at 19.0% with a 70bs beat in Media and 30bps beat in Parks. We are lowering our F3Q EPS to $0.90 (from $0.92) but are raising F4Q to $0.66 (from $0.64), primarily due to a shift of ESPN deferral revenue from F3Q to F4Q. Our F12 EPS is now $2.93 vs. our prior $2.95."

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 $44.30 yesterday.


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