I hope you bought Disney stocks before their better-than-expected financial report for the 2nd quarter!
The bottom line, however, still managed to best Wall Street's estimates.
Barclays Capital raised its rating on Disney from underweight, or sell, to overweight, or the equivalent of a buy call. Wunderlich Securities lifted its rating on the stock to hold from sell.
"While we continue to harbor structural concerns on certain subsectors of media, we believe Disney is best-positioned for media's digital evolution," Barclays analyst Anthony DiClemente wrote in a note to clients. "DVD sales and ABC are now a smaller component of operating income and thus valuation."
With "Up" and a slew of other movies coming out this year from Disney, I can only hope that their movie division will not under perform. "Up" certainly looks like a winner.
Zz.
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