More details: Headline: Pixar Upgraded To 'Accumulate' By Prudential Securities
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NEW YORK -(Dow Jones)- Prudential Securities Inc. analyst Katherine
Styponias upgraded her rating on shares of Pixar (PIXR) to "accumulate"
from "hold."
The analyst also set a price target of $47 on the shares.
In a research summary, Styponias said shares of Pixar could move up
on the European release of "A Bug's Life" in February, the home-video
release of "A Bug's Life," which could happen in the second quarter; and
the showing, sometime in May to June, of the "Toy Story 2" trailer in
theaters.
Styponias estimated that total domestic box-office for "A Bug's
Life," a co-production with Walt Disney Co. (DIS), will be $160 million,
below her prior estimate of $175 million. However, the film is on track
to become the fourth-highest grossing animated film in the U.S., she
added.
Styponias reduced her 1999 earnings estimate on Pixar (PIXR) to 50
cents a share from 56 cents.
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