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 Disney News, Disney World News |
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Last Updated: Apr 21, 2009 - 9:08:32 AM
By wdwinfo.com
Nov 17, 2008
With the Walt Disney Company's stock and bond value on a decline, a financial analyst has downgraded the rating of the entertainment giant.
Laura Martin, analyst with Soleil Securities Group, has changed the Disney rating from "Buy" to "Hold" with a target price decrease from $40 to $23.
Martin cited concerns with the 30 percent drop in stock price since August and an overall 35 percent decrease this past year. The analyst also mentioned the recent drop to 60 percent in Disney's equity and debt trading prices which usually are in the 77 percent range.
The Walt Disney Company's financial statement released earlier this month indicated that the company has experienced a fourth-quarter decline of 13 percent. Particularly hard hit were Disney's ABC network and affiliates which have seen a $150 million loss in advertising.
Disney's stock was valued at $21.08 at the close of the Market on Friday.
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