MarketWatch, 9/28/06
Merrill ups Walt Disney share price target, earnings outlook

NEW YORK (MarketWatch) -- Merrill Lynch raised its price target for Walt Disney shares to reflect the media and entertainment company's decision to scrap its Mobile ESPN wireless network. "We had been skeptical the mobile virtual network operator business model, and therefore view this as a positive step for the company," said Analyst Jessica Reif Cohen in a note to clients. She lifted her price target to $35 from $34, and raised her 2007 earnings estimate to $1.72 a share from $1.70. The stock, a component of the Dow industrials, was last down 5 cents at $30.99.
Full Story: Merrill ups Walt Disney share price target, earnings outlook