Piper Jaffray analyst Stan Meyers upgraded Walt Disney Co. (DIS) to Overweight saying the company’s upcoming film slate “will drive significant value” over the next five years. Disney is the best positioned media company to leverage its content across a growing number of distribution channels despite the decelerating pace of growth at its ESPN unit, Meyers tells investors in a research note. The analyst raised his price target for the shares to $120 from $105. Disney closed yesterday down 60c to $97.05 but is up about $1 pre-market.
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