CIBC Cuts Disney to Sector Underperform
CIBC downgraded Walt Disney (DIS) to sector underperform from sector perform.
Analyst Jason Helfstein says his analysis of fiscal year 2007 (ending September) suggests the company will have slower growth, resulting from fewer shows in syndication, difficult ratings comps at ABC, slower growth at Theme Parks, Pixar dilution, and results in single digit earnings per share (EPS) growth. Assuming investors will look beyond this slower growth, he thinks shares are worth $32 to $34 per share.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- China Warns It May Retaliate If U.S. Imposes Metal Tariffs
- Box-Office Smash ‘Black Panther’ May Be Game Changer for Artists
- European Stocks Falter After Asia Rally; Oil Rises: Markets Wrap
- Saudi Arabia Is Taking a Harder Line on Oil Prices
- Noble Group Flags $5 Billion Loss as Debt-Deal Endgame Nears