Nomura Securities U.S. Conviction Buy List: Adding Disney (DIS), Removing Viacom (VIAB)

Nomura Securities U.S. Conviction Buy List: Adding Disney, removing Viacom.

Analyst, Michael Lean, said, "We are adding The Walt Disney Company (NYSE: DIS) to our US Conviction Buy List. Following yesterday’s announced loss on the studio’s most recent film release, John Carter, we do not expect the weaker film results to affect any of the business segments, and believe the company’s core businesses – i.e., the Media Networks and Park – are intact and will in fact show strength as the year progresses. We have removed Viacom (Nasdaq: VIAB) from our US Conviction Buy List. Our analyst maintains a Buy rating on Viacom with a $54 price target. Although there are concerns about the pace of ad growth and ratings in the coming quarters, we believe Viacom’s valuation is attractive and that its buyback will continue to offer support. Other stocks on our US Conviction Buy List are: Dover (NYSE: DOV), Goldman Sachs (NYSE: GS), Limited (NYSE: LTD), Marriott (NYSE: MAR), Maxim (Nasdaq: MXIM), News Corp (Nasdaq: NWSA), Oracle (Nasdaq: ORCL), PetSmart (Nasdaq: PETM), PNC Financial (NYSE: PNC) and Sherwin-Williams (NYSE: SHW).

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