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Wit Soundview Cuts Income, Revenue Estimate for Disney


Wit Soundview

lowered its fiscal 2001 and 2002 earnings and revenue estimates for

Walt Disney

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, 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

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, 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.

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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