Pachter upgrades DWA shares

Also increased the stock's price target

Wedbush Morgan analyst Michael Pachter upgraded shares of DreamWorks Animation from "hold" to "buy," arguing that "deepening film library profits mitigate boxoffice volatility."

On the back of the company's better-than-expected first-quarter earnings from late Tuesday, he also increased his price target on the stock by $5 to $33.
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