Dixon Digs Disney

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PaineWebber Inc. analyst Christopher Dixon raised his rating on The Walt Disney Co. to "buy" from "attractive" and set a $52 price target, citing recent stock-price weakness, strong advertising trends at its broadcast and cable networks and ongoing efforts to drive returns with lower levels of capital. Dixon wrote that he was still concerned about Disney's GO.com Internet portal, but he added that a planned relaunch of the site in September and a potential renaming to align GO.com with other Disney brands "can enable Disney to capture its share of marketing dollars across core media and Internet platforms."

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