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Pixar's Improving Fundamentals ! - 9/27/2004 4:11:26 PM   

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Credit Suisse First Boston raised the target price on Pixar, citing improving fundamentals. CSFB said, "The continued ramp up of DVD hardware penetration rates with consumers globally is driving higher DVD unit sales and that trend will further drive Pixar earnings power going forward." The research firm said Pixar's long-term earnings potential should exceed CSFB's prior expectations, and raised the long-term growth rate estimate to 6.5% from 5.5%. The firm also noted two near-term catalysts that will drive the stock in the second half of the year. The Incredibles is set for a Nov. 5 release and, based on past releases, shares could be bid up in anticipation of the film's release. There is also the potential that Pixar announces a new distribution deal this year, CSFB said. The firm raised the 12-month target price to $88 from $78 and maintained an "outperform" rating.

Source : Forbes
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