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Analyst upgrade trigger Disney share rise
MUMBAI: Putting an end to a stream of negative headlines it had been creating in the recent past, Walt Disney Co. has come up with something pleasant this time!
The Disney shares rose more than four per cent at Tuesday’s close. This was after a Wall Street analyst upgraded the stock based on the company’s strong theme park business, DVD sales and expectations for improved advertising revenue.
UBS Investment Research analyst Tim Wallace upgraded Disney stock to “buy” from “neutral”, based on valuation and expectations for strong growth this year, say reports.
Disney was one of the biggest percentage gainers among blue chip stocks and one of the top movers in the Standard & Poor’s 500 index. The rise comes after more than a month of declines. The past declines had shaved 13 percent from Disney’s shares
