Solid Q2 underscores IP strength
Good numbers, with the beat coming from Parks & Resorts and Studio. Overall, EPS was ahead, up 23% YoY to $1.84 vs. cons. of $1.70. P&R OI rose 27% vs. cons. of 15% while Studio was up 29% vs. cons. of -4%. The latter result reflects the strength of Black Panther which significantly outperformed expectations. Our PT comes down from $125 to $121 reflecting a new methodology we discuss in detail later in this note. Of course there is a chance that Disney does not win Fox and for that reason, we remain Neutral. We see Fox as a safer option.Diskus Werke Fankfurt am Main is a holding company. Co. through its subsidiaries is a producer of grinding machines and grinding material for industrial use.
Formed in 2003 by an established team from Cazenove, one of the most respected investment banks in the UK, Atlantic Equities conducts and publishes fundamental, bottom up research on mid and large cap US companies.
Atlantic provide order execution through a wide range of DMA products and algorithmic trading suites.
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