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'Cars 2' fuels Wall Street bullish reports

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  • 'Cars 2' fuels Wall Street bullish reports

    NEW YORK - Several analysts on Monday expressed support for Walt Disney's stock, with some highlighting the better-than-expected box office performance of Cars 2.

    Cars 2

    In some negative news for the film industry, however, "another weak data point for 3D moviegoers was evident here at 40 percent of ticket sales."

    Wunderlich Securities analyst Matthew Harrigan echoed Joyce's take on the Cars sequel. While it is still early, "Cars 2 [is] amazingly pacing slightly ahead of Toy Story 3 overseas," he said. On a comparable territory basis, Cars 2 is 4 percent ahead of last year's Toy Story 3.

    Harrigan also rates Disney shares a "buy" with a target price of $50. On Monday, he highlighted "potential stock upside relative to the ad market, park attendance/pricing and affiliate fees.

    Meanwhile, Nomura analyst Michael Nathanson, who also has a "buy" on the stock, in his Disney report on Monday cut his target price by $2 to $45 and addressed what he called three core concerns of investors. His report's title: "Looking to Regain the Magic."

    full article at:
    Analysts Issue Bullish Reports on Disney After 'Cars 2' Opening Weekend - The Hollywood Reporter
    "If you don't know how to draw, you don't belong in this building" - John Lasseter 2006

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