On Monday analysts at Deutsche Bank raised the price target on media and entertainment giant The Walt Disney Company (DIS) due to a strong outlook.

The analysts maintain a “Buy” rating on Disney and raised its price target from $58 to $63. This new valuation suggests a 16% upside to Friday’s closing price of $54.59.

A Deutsche Bank analyst commented, “Disney has 65% of EBIT from networks, limited secular growth concerns (focused on non-ad supported kids, live sports), very strong competitive positions, leading global brands, strategically complete, and excellent B/S & governance. We see 17% upside to our new $63 target (15x ‘14E P/E).”

Disney shares were down 35 cents, or -0.64%, during morning trading on Monday. The stock is up +35.55% over the past year.

The Bottom Line
Shares of Walt Disney (DIS) have a dividend yield of 1.38% based on Monday’s intraday trading price of $54.20.

The Walt Disney Company (DIS) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.