Goldman Sachs Upgrades Walt Disney (DIS) to Buy

Goldman Sachs upgraded Walt Disney (NYSE: DIS) from Neutral to Buy with a price target of $134.00 (from $109.00).

Analyst Drew Borst titles his note "The Mouse Will Roar" and comments "Even with 9% outperformance over the past two months (since the last EPS report on 11/10/16), we see 24% upside over the next 12 months driven by mean reversion on relative P/E on an acceleration in FY18E EPS growth (+14% vs. FY17E +3%). DIS currently trades at 95% of the SPX P/E vs. our target of a post-recession average of 110%. We see four key drivers: (1) DIS’s FY18 film slate might be its best ever; (2) ESPN headwinds may abate; (3) Major new park attractions start opening in CY17 through CY19. (4) DIS would potentially benefit the most in the peer group from corporate tax reform."

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 $108.06 Friday.

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