Walt Disney (DIS) PT Lifted to $120 at Nomura Securities on Star Wars Upside

Nomura Securities analyst Anthony DiClemente reiterated a Buy rating and boosted his price target on Walt Disney (NYSE: DIS) to $120.00 (from $110.00), citing potential upside from the Star Wars franchisee.

DiClemente comments, "Given the fervor surrounding the upcoming December release of Star Wars: The Force Awakens, Disney’s first Lucasfilm production since it acquired Lucasfilm in 2012, we are increasing our estimates for its potential EPS impact. Lucasfilm fits seamlessly into Disney’s well-oiled, cross-division monetization engine."

He added, "We now estimate that Lucasfilm could add 6%-11% of incremental 2016E EPS upside (at least $.30) vs. our prior Disney model. Given 3 Star Wars films 2016-19, we estimate the franchise could increase our prior 2016-19E EPS CAGR estimate by ~400bps to ~14%."

FY2016 GAAP EPS goes from $5.47 to $5.77.

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 $106.95 yesterday.

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