Disney Up Ahead of Q1 Earnings

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Shares in Walt Disney Co. rose nearly 3 percent early Friday after the entertainment giant was upgraded by Oppenheimer & Co., which said Disney’s fiscal first-quarter results will be better than expected.

Analyst Jason Helfstein raised his rating to “buy” and added that he expects strong attendance at Disney’s theme parks. Helfstein also said that compared to the Standard and Poor’s 500 index, shares in Burbank-based Disney is at its lowest value in five years.

Disney is scheduled to report its fiscal first-quarter results on Feb. 5.

The upgrade comes after Citi Investment Research analyst Jason Bazinet downgraded the stock earlier this week due to concerns that a slowing economy has begun to cut into the company’s revenues.

Shares in Disney were up 2.9 percent to $30.70 in early trading Friday morning on the New York Stock Exchange.

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