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Loop Capital goes Neutral on Disney after stock's build-up

Apr. 24, 2017 12:27 PM ETThe Walt Disney Company (DIS) StockDISBy: Jason Aycock, SA News Editor15 Comments
  • Walt Disney (DIS -0.3%) has had a nice few quarters, prompting Loop Capital to take off its Buy sign and downgrade the shares to Neutral.
  • The catalysts usually cited -- a strong upcoming film slate incorporating many franchises, and building contributions from its theme parks -- are "built into the stock," given that Disney is pretty communicative about its outlook, says Loop Managing Director David Miller.
  • Shares hit a 52-week high today but are coming off that. They're up 9.4% YTD.
  • Miller's keeping a price target of $118, just 3.5% over current price of $114.07. Miller thinks Disney should trade within its historical multiple, valued at 10 times enterprise value/EBITDA for the coming year.

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