UPDATE: Guggenheim Upgrades Walt Disney (DIS) to Buy

(Updated - April 27, 2015 8:16 AM EDT)

Guggenheim upgraded Walt Disney (NYSE: DIS) from Neutral to Buy with a price target of $127. Analyst Michael Morris thinks the stock will gain as positive operating momentum to continues.

"We believe core operating results will continue to exceed consensus expectations (our 2015 and 2016 EPS estimates are 2.4% and 4.9% ahead of consensus) and investors will assign an even higher valuation premium to the company’s branded assets as the year progresses," said Morris.

"Most investors are well-versed in Disney's strong assets and content pipeline, which include Avengers (5/1 domestic release) and Star Wars films (12/18) and related consumer product sales as clear opportunities. We expect these assets will drive near-term earnings beats, but, more important, we are confident they should fuel incremental future media, parks, and product opportunities," added the analyst.

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 $109.53 yesterday.

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