BofA Merrill Upgrades Disney (DIS) to Buy, Raises Price Target to $42

BofA Merrill upgrades Disney (NYSE: DIS) from Neutral to Buy. The firm also raised its price target on the stock from $33 to $42.

BofA Merrill Lynch analysts cited valuation and said that at current levels, the stock's risk/reward profile is "skewed highly positive". The firm also believes that Disney is "one of the most compelling equities in Media and Entertainment" moving into FY11. Further, BofA also said it was positive given expectations for a "nascent" recovery for the consumer and hopes that films will bounce similarly.

Visit our Analyst Ratings page to stay up-to-date on all the market-moving upgrades/downgrades on shares of Disney.

The Walt Disney Company, together with its subsidiaries, operates as an entertainment company worldwide.

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