Lehman cut their target for Disney from 40 to 29. My 12 month target is 18.50. My take on theme parks is that they will be severely impacted, not merely distressed by rising energy prices and the concurrent shift in consumer behavior. I am supremely confident that I am both correct and early.
TO ALL MY FRIENDS AT DIS, LET ME BE CLEAR ABOUT ONE IMPORTANT THING. YOU REALLY NEED TO HEAR AND UNDERSTAND THIS: The downside to this market is severely understated by all houses, including Lehman. After all, they're all in the 'hope' business (as in 'hoping you don't take all of your money out of American equities so I don't lose my house in the Hamptons').....
To those on this board who severely castigated me for being accurate, best wishes and good luck to you.
Regarding Gasoline and the impact on Park Attendence...A family of four driving from lets say New York to Orlando is spending several thousand dollars on Hotel Rooms, Park Hopper Passes and other entertainments. That 1-150 or so extra for gas is not going to break anyones budget. I just did a driving vacation of over 2000 miles, I budgeted figuring 3.75 a gallon. By the time I left it was 4.19 on average for the trip...chump change.
Yeah, you're full of crap....is what you are. You said that then it broke 30 it would be under 28 right away. Not quite pal. DIS is holding up quite well. Lehman is so messed up. If they had half a brain, then they would have never gotten them selves teetering on bankruptcy like they are. In fact, if Lehman says, "white", then I will do "black". If they say, "left", then I would make a "right". Go "Gann Fan" yourself.