UPDATE: Jefferies Starts Walt Disney (DIS) at Buy

(Updated - June 26, 2014 6:49 AM EDT)

Jefferies initiated coverage on Walt Disney (NYSE: DIS) with a Buy rating and a price target of $100.00.

Analyst John Janedis comments, "We think Disney is still at the early stages of a multi-year run where all segments will post solid growth. In our view, the combination of pricing power and resulting margin expansion at the parks, continued success at the film studio with associated flow-through at the consumer segment, what we expect will be at least high single digit EBIT growth at the cable nets (we assume modest upside to current high single digit guidance, though are not modeling it), and sustained return of capital, will drive upside in the stock. We currently assume EPS for F2014, F2015, and F2016 of $4.27, $4.71, and $5.57 vs. consensus of $4.18, $4.63, and $5.30, respectively. Our EPS CAGR from ’14-16E is 14%."

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 $82.68 yesterday.

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