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Downgrade Alert for Walt Disney (DIS)

By James Quinn

Walt Disney (NYSE:DIS) was downgraded from Buy to Hold at Stifel today. The stock closed yesterday at $98.22 on volume of 10.6 million shares, above average daily volume of 6.7 million.

Walt Disney share prices have moved between a 52-week high of $122.08 and a 52-week low of $86.25 and closed yesterday at 14% above that low price at $98.22 per share. The 200-day and 50-day moving averages have moved 0.29% lower and 0.70% higher over the past week, respectively.

The Walt Disney Company, an entertainment company, conducts operations in media networks, studio entertainment, theme parks and resorts, consumer products, and Internet and direct marketing. The Company produces motion pictures, television programs, and musical recordings, as well as publishes books and magazines. Disney also operates ABC radio and television and theme parks.

Potential upside of 21.0% exists for Walt Disney, based on a current level of $98.22 and analysts' average consensus price target of $118.84. The stock should run into initial resistance at its 50-day moving average (MA) of $99.50 and subsequent resistance at its 200-day MA of $104.39.

SmarTrend is tracking the current trend status for Walt Disney and will alert subscribers who have DIS in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades Walt Disney

Ticker(s): DIS