Disney, News Corp. Stocks Hit 52-Week Highs
The stocks of several entertainment conglomerates continue to fly high.
The shares of Walt Disney and News Corp. hit new 52-week highs on Thursday, while CBS Corp.'s stock closed near its high for the past year. The stock gains came as U.S. stock indices like the Dow hit multi-year highs as the European Central Bank approved new measures to fight the debt crisis in several Southern European countries.
Disney's stock closed up 2.1 percent at $51.86 after going as high as $51.87 in Thursday's trading session.
Rupert Murdoch's News Corp. has in recent days continued to attract bullish Wall Street views. Barclays Capital analyst Anthony DiClemente upgraded the stock of the sector giant earlier this week, arguing that its entertainment business, which is scheduled to be separated from its publishing units, "alone is worth more than the current trading price."
On Thursday, the company's Class A stock finished 3.1 percent higher at $24.50. Earlier in the trading session, the stock hit a 52-week high of $24.54.
CBS Corp. has also continued to get support from analysts, who have predicted more upside. On Thursday, the company's stock closed at $36.71 after going as high as $36.73, just shy of its 52-week high of $36.75 set late last month.