Disney Stock Up to Record Levels on Analyst Upgrades

Disney Stock Up Record Levels on

Shares expected to trade as high as $72 from its current 52-week highs of around $63.

Already trading at record levels, Disney’s stock enjoyed a boost Monday morning after analysts suggested the company’s potential for earnings growth is “underappreciated by the market.”

Statement came from UBS analyst John Janedis, who upgraded the stock to “buy” from “neutral” at the start of the trading day. It also follows a strong international opening for “Iron Man 3,” which earned a whopping $198.4 million over the weekend, besting the $185.1 million collected from “The Avengers” during its overseas debut. Wall Street also approves of a recent round of cost cutting at the studio to trim overhead.

Disney’s stock opened at $62.82 and rose to $63.25, a gain of 2.2% before noon on Monday — reaching a 52-week high. Disney was already trading at record levels. Its shares are up nearly 50% since the same time last year.

Company was among the top stocks trading on the Dow Jones Industrial Average, as a result of the UBS report, which put a new price target on Disney shares to $72 from $55.

Walt Disney Studios has a strong summer slate. In addition to “Iron Man 3,” it will also release “Monsters University,” “The Lone Ranger” and “Planes,” and has “Thor: The Dark World” later this year. “Oz the Great and Powerful” has earned $481 million worldwide since March.

The Mouse House reports second quarter earnings May 7.

Overall stock market is up, boosted by technology shares.

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