lowered its fiscal 2001 and 2002 earnings and revenue estimates for
, but the firm's analyst maintained a buy rating on the stock and a price target of $37.
Wit analyst Jordan Rohan cut his fiscal 2001 earnings estimate, excluding Disney's share of the losses from the
Disney Internet Group
, to 91 cents a share from 96 cents, and his 2002 estimate to $1.05 a share from $1.09. The entertainment giant earned 55 cents in 1999. Including those losses, Wit forecasts a fiscal 2001 profit of 54 cents a share and a fiscal 2002 profit of 68 cents. Analysts polled by
First Call/Thomson Financial
projected earnings of 62 cents a share for 2001 and 87 cents a share for 2002.
Rohan also lowered his fiscal 2001 revenue estimate to $26.25 billion from $26.66 billion and his 2002 estimate to $28.26 billion from $28.72 billion.
Shares of the Burbank, Calif., company were lately trading up $1.25, or 4%, to $32.31 on the
New York Stock Exchange