Pixar Animation Studios "neutral," target price raised

10/04/04 - Banc of America

NEW YORK, October 4 (newratings.com) – Analyst Michael L Savner of Banc of America Securities reiterates his "neutral" rating on Pixar Animation Studios (PIXR). The 12-month target price has been raised from $74 to $76.

In a research note published this morning, the analyst mentions that the impressive box-office opening for DreamWorks Animations' A Shark Tale indicates robust demand for computer-generated animation films. Accordingly, Banc of America Securities has raised its domestic box-office gross estimate for Pixar Animation Studios' upcoming release, The Incredibles, from $250 million to $275 million.