Close

Wells Fargo Upgrades Walt Disney (DIS) to Outperform

September 5, 2017 7:58 AM EDT
Get Alerts DIS Hot Sheet
Price: $108.13 -0.9%

Rating Summary:
    24 Buy, 21 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 8 | Down: 42 | New: 10
Join SI Premium – FREE

Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.

Wells Fargo upgraded Walt Disney (NYSE: DIS) from Market Perform to Outperform with a price target of $116.00 (from $109.00).

Analyst Marci Ryvicker likes the entry point even if the call is a little late. The analyst comments "We’ve had time to digest BAMTech & the related streaming apps & think the Street’s negativity is overdone. (1) The downside risk to ests. should be limited by other cuts (i.e., reports suggesting 10% cuts at ABC). (2) Even “modest dilution” from BAMTech is prob. conservative. In fact, like Lucas, we may see no real dilution given offsets from other parts of the business. (3) We think mgmt. has every intention to clear up concerns beg. with the 9/7 investor conf. in NYC, followed by the Nov. earnings call, and eventually an analyst day (maybe). We like this entry point as DIS doesn’t tend to stay at 15x for long. While we might be early, we view the risk/reward as heavily skewed to the upside."

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 $101.50 Friday.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Analyst PT Change, Hot Upgrades, Upgrades

Related Entities

Earnings, Wells Fargo