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Downgrade Alert for Walt Disney (DIS)

By Amy Schwartz

Walt Disney (NYSE:DIS) was downgraded from Outperform to Market Perform at FBR Capital today. The stock closed yesterday at $96.69 on volume of 6.3 million shares, below average daily volume of 6.7 million.

Walt Disney has overhead space with shares priced $96.69, or 18.6% below the average consensus analyst price target of $118.84. Walt Disney shares should first meet resistance at the 50-day moving average (MA) of $99.50 and find additional resistance at the 200-day MA of $104.39.

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.

In the past 52 weeks, shares of Walt Disney have traded between a low of $86.25 and a high of $122.08 and closed yesterday at $96.69, which is 12% above that low price. The 200-day and 50-day moving averages have moved 0.29% lower and 0.70% higher over the past week, respectively.

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