(Disney article updated with stock information and additional analyst commentary.)NEW YORK ( TheStreet) -- Walt Disney ( DIS) shares have reached a series of 52-week highs this week after Morgan Stanley raised its price target for the media and entertainment company to $44 from $43 and maintained its overweight rating on the stock. Today shares rose almost $1 from yesterday's closing price and peaked at $39.98. More than 14.5 million shares have been traded today, up from the stock's 3-month average daily volume of 8.1 million. On Tuesday, Disney surged to a high of $39 as nearly 21 million shares traded hands throughout the day. The stock closed up more than 3% at $38.99. Morgan Stanley analyst Benjamin Swinburne increased his 2011 earnings estimate for Disney to $2.44 from $2.38, driven by cost reductions at its broadcast segment as well as revenue gains from its recent deal with Netflix ( NFLX). Caris analyst David Miller also boosted his guidance on Disney. In a Jan. 3 research note, Miller upped his 2011 earnings estimate to 58 cents a share from his previously projected 54 cents. He raised his price target to $42 from $40 due to "stellar fundamentals at ESPN," which he says continues to prosper from affiliate fees and advertising growth on exclusive sports rights properties.