Piper Jaffray Upgrades DreamWorks Animation (DWA) to Buy
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Piper Jaffray & Co. upgrades DreamWorks Animation (NYSE: DWA) from Neutral to Buy and raised its price target from $32 to $34, citing strong expectations for the company's 3-D film slate and valuation.
Piper analyst says, "We are upgrading DWA to Buy and raising our price target to $34 based on our strong expectations for the company's 3-D film slate and our belief the shares look inexpensive even in the face of declining home video sales. Our detailed film analysis suggests secular home video worries at DreamWorks are overstated. Our model suggests upside to DWA shares even after factoring in a 40% home video sales decline by 2011. We believe DreamWorks Animation is well positioned to benefit from the 3-D upgrade cycle, helping offset home video concerns. In addition, new revenue initiatives, while currently pinching margins, should begin to ramp as early as 4Q09 and become material in 2010."
DreamWorks Animation SKG, Inc. (DreamWorks Animation) is engaged in developing and producing computer-generated (CG) animated feature films.
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dreamworks
what is new otc stock symbol for dream works .on feb 26 th co said they were no longer on nyse.
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Will Stay the Same (DWA)
TraderJoe on Mar 4, 2009 09:49 AM