- DreamWorks Animation (NASDAQ:DWA) is bucking a panic-selling market -- actually trading in positive ground briefly before slipping to -0.7% -- following an upgrade by B. Riley, to Buy.
- It's a notch move from the firm's Neutral rating. Riley holds a price target of $26; shares had closed Friday at $19.08.
- Eric Wold noted that the studio's shares have continued to slide this summer despite positive catalysts that "have helped, in our opinion, to boost the studio’s profitability outlook heading into 2016."
- Despite its much-needed hit in Home, the studio has a "much to prove with the revamped slate focus and reduced overhead structure. Nevertheless, we view the pullback in the shares as an attractive entry point for investors with a longer-term focus as the turnaround year progresses further."
- Previously: DreamWorks up 8% as moviegoers bring 'Home' the bacon (Mar. 30 2015)
- Previously: DreamWorks to sell campus HQ to SunTrust unit (Feb. 26 2015)
- Previously: DreamWorks pummeled after brutal quarter; rough year ahead (Feb. 24 2015)