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Sunday, Aug 14, 2022
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DreamWorks Gets Upgraded

Shares in DreamWorks Animation SKG Inc. added as much as 6.5 percent Tuesday after the stock was added to Goldman, Sachs & Co.’s “buy” list.


Analysts Michael Liddell and Ingrid Chung increased their earnings-per-share estimates, saying the Glendale-based studio’s “Kung Fu Panda” movie, due out later this year, should have higher box-office sales than originally expected. The analysts also said revenue from the studio’s library will be more consistent over the next three years, pushing up revenues.


The upgrades come less than a week after DreamWorks reported a 69 percent gain in profit along with a 67 percent hike in sales for its first quarter.


Shares in DreamWorks were up 4.1 percent to $30.50 in early trading Tuesday.

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