×
You will be redirected back to your article in seconds

Disney Stock Up to Record Levels on Analyst Upgrades

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.

Popular on Variety

More Biz

  • Patrick Whitesell and Ari Emanuel WME

    Endeavor Targets Sept. 27 for Stock Debut, IPO Video Tells Company's Origin Story

    After years of preparation, Endeavor is set to make its formal Wall Street debut on Sept. 27, when its stock will begin trading on the New York Stock Exchange. Endeavor has targeted Sept. 26 for the final pricing of its shares. The stock will trade publicly the following day. Earlier this week, Endeavor said its [...]

  • Netflix - Apple TV

    Netflix Stock Drops After CEO Acknowledges 'Tough Competition' Coming From Disney, Apple

    Netflix shares fell as much as 7% Friday to a nine-month low, coming after CEO Reed Hastings commented that the November launches of Disney Plus and Apple TV Plus will introduce a “whole new world” of competition. Hastings, speaking at the Royal Television Society conference Friday in Cambridge, England, said, “While we’ve been competing with [...]

  • Charlie Rose Sexual Harassment

    Charlie Rose Sued for Sexual Harassment by Longtime Makeup Artist

    A makeup artist who worked for Charlie Rose for 22 years has filed a sexual harassment lawsuit, accusing the former CBS and PBS host of years of unlawful behavior toward female employees. Gina Riggi alleges that Rose was verbally abusive with her and would often make derogatory comments about her weight. She also alleges that [...]

  • Rob Stringer

    Sony Music Chief Rob Stringer on Sustaining Growth and Recovering From the 'Dark Times'

    The Goldman Sachs Communacopia conference, now in its 28th year, gives top executives at major companies the opportunity to make their case to investors — and the Goldman analysts the opportunity to keep things on the up and up. While the analysts don’t necessarily grill the executives, they don’t lob softball questions either. That was [...]

  • Frank Grillo'Avengers: Endgame' Film Premiere, Arrivals,

    Matt Phelps Tapped as President of Joe Carnahan, Frank Grillo's Warparty

    Frank Grillo and Joe Carnahan’s Warparty productikon banner has appointed Matt Phelps president of the company. Phelps will head the Los Angeles office and be responsible for overseeing all film and television projects. “We searched long and hard to find the right fit for Warparty and felt that Matt embodied everything that we were looking [...]

  • Jack Gilardi, Longtime ICM Partners Agent,

    Jack Gilardi, Longtime ICM Partners Agent, Dies at 88

    Jack Gilardi, a longtime ICM Partners agent who represented such stars as Burt Reynolds, Sylvester Stallone, Jerry Lewis, Charlton Heston and Shirley MacLaine, died Thursday at his home in Los Angeles. He was 88. Gilardi was known for his gentlemanly style, love of the Los Angeles Dodgers and his skill at representing top actors. He [...]

  • Nexstar Completes Tribune Acquisition, Sean Compton

    Nexstar Completes Tribune Acquisition, Sean Compton to Head Programming

    Nexstar Media Group has become the nation’s largest owner of TV stations after completing its $4.1 billion acquisition of Tribune Media. The deal creates a broadcasting colossus with more than 200 stations serving more than 100 markets, although a number of stations will be divested to keep Nexstar in compliance with FCC ownership limits. Nexstar, [...]

More From Our Brands

Access exclusive content