NEW YORK (AP) — Shares of Walt Disney Co. hit a new all-time high Monday after a UBS analyst upgraded the company to "Buy" from "Neutral," saying that its revenue potential isn't fully appreciated by the market.

THE OPINION: John Janedis, who also boosted his price target for the stock by $17 to $72, said he thinks the company can generate annual broadcast and other fees of $500 million in fiscal 2014 and $650 million in fiscal 2015.

Janedis also said he now expects Disney's theme parks to be more profitable than previously expected, since most of their opening and startup costs from recent projects are now in the past. That will allow more revenue to translate into profits beginning in the third calendar quarter of this year, he said.

The analyst added that Disney's recent acquisitions and investments — including its 2009 purchase of Marvel Entertainment, its Lucasfilm purchase last year, and upgrades and expansions at its parks — will become more visible soon.

THE SHARES: The Burbank, Calif.-based company's shares rose $1.18, or 2 percent, to $63.05 in midday trading after peaking at a new all-time high of $63.25 earlier in the day.

Disney shares have been on a steady climb for most of the last year, gaining about 45 percent while the benchmark S&P 500 index is up about 14 percent.

About News.net

Publishing Services International Limited (PSIL) is the publisher and operator of a worldwide network of online news sites dedicated to delivering fair, accurate and relevant reporting from a variety of the world’s most trusted sources – from the biggest cities to the smallest towns.

We deliver positive and powerful messages to our readers, providing up‑to‑the‑second news that matters to the individual.

Our promise is to serve communities and individuals worldwide, delivering information that hasn’t always been available to them. We will give them back a voice – a voice that’s empowering because it is theirs – and provide a platform to communicate between themselves and the world.

We believe people are not just generic demographics; they are individuals with their own preferences and curiosities. We are about understanding these individuals, listening to them, and serving them.

We are the new pioneering spirit of news – we’re not talking to everyone, we’re talking with every one.

If you want your news, your voice, your way, on your time – we’ve got news for you.

 

FAQs

Email

If you have any questions or concerns please email us on support@news.net

Phone

  • Australia, Toll Free 1-800-983-421
  • Hong Kong, Toll Free 800-906-187
  • Singapore, Toll Free 800-852-3871
  • USA/Canada, Toll Free 1-800-830-4132

Advertise With Us

Interested in being awesome?
Contact us by email or phone.

Cancel