DreamWorks Animation "buy"

02/28/07 - Banc of America

NEW YORK, February 28 (newratings.com) - Analyst Michael Savner of Banc of America Securities reiterates his "buy" rating on DreamWorks Animation (DWA). The target price is set to $37.

In a research note published this morning, the analyst mentions that the company has reported its 4Q results ahead of expectations. DreamWorks Animation has announced a $150 million share repurchase authorization, the analyst says. The release of Shrek III in May and Bee Movie in 2007 are expected to lend upside to the company’s share price, Banc of America Securities adds.