Disney shares tumble on economic outlook |
Reuters - Aug 10, 2011 |
Shares of Walt Disney Co (DIS.N) fell as much as 14.7 percent on Wednesday, a day after the company's quarterly results failed to reassure investors that Disney could do well in a weak U.S. economy.
Barclays Capital, Wunderlich Securities, RBC and Evercore Partners all cut their price targets for Disney and lowered their expectations for its theme parks and TV networks.
Disney shares fell much more than its peer media companies, dropping some $10 billion in market value, despite solid quarterly results.
Wunderlich Securities analyst Matthew Harrigan lowered his rating on Disney to "hold" from "buy," saying the company's asset value appeared "excessively ... oriented toward ESPN."
Read Full Article from Reuters
- Posted: 2011-08-10 11:36:29
More Stock Investor Place Company News |
|
|
|
Stock Investor Place Company News Archive |
|
|