The Walt Disney Co. started ringing out 2013 on a high note, with shares of the company trading at record levels on Monday after analysts upgraded its stock price.
Shares rose more than 2.5% to $76.50 in early morning trading. By mid-day it was at around $76.29.
The latest stock bump was prompted by a report released by Guggenheim on Monday that raised its target price for Disney by $10 to $87 per share. Its previous price target was $77. Guggenheim's Michael Morris said he was encouraged by the strong performance of Marvel's "Thor" sequel and the animated hit "Frozen," with both outperforming expectations, along with Disney's future slate of films and prospects for international growth opportunities from its theme parks, consumer products and movie releases from Marvel, Pixar and Lucasfilm.
"Frozen" has earned nearly $492 million around the globe, while "Thor: The Dark World" is now at $629 million.
Morris especially pointed out Disney's parks biz as noteworthy, estimating revenue to reach $15.7 billion in 2014 and $16.22 billion in 2015. Shanghai Disneyland opens in late 2015.
SEE ALSO: Media Stocks See 'Wolf of Wall Street'-Like Rise in 2013
Disney wasn't alone on Monday, with all of the major entertainment media stocks enjoying an end-of-year rise.
CBS Corp. hit a new high of $63.66, up nearly 1%; while shares of Lionsgate were up 3.7% to $31.94; Sony rose 1.8% to $17.39; and 21st Century Fox was up 0.7% to $35.19 before losing any gains. NBCUniversal-parent Comcast also was up to $51.79.
Disney Stock Celebrates End of 2013 with All-Time High
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