Janney Capital Downgrades DreamWorks Animation (DWA) to Neutral

Janney Capital downgraded DreamWorks Animation (NASDAQ: DWA) from Buy to Neutral with a price target of $27.

Analyst Tony Wible said, "DWA beat on strong Library and Dragon results that offset weaker non-film performance, highlighting the value of DWA's increasingly diverse model. It is poised to see a long term earnings inflection and may still be an attractive M&A target. However, it faces a rough 2015 and now needs to cope with higher cost, a delay in CP sales, a slower ramp of TV margin, and lingering impairment risk. The run in the stock and incremental NT issues lead us to downgrade to Neutral. We maintain our $27 FV based on LT prospects that drive valuation."

For an analyst ratings summary and ratings history on DreamWorks Animation click here. For more ratings news on DreamWorks Animation click here.

Shares of DreamWorks Animation closed at $23.29 yesterday.

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