DreamWorks Boosted By Madagascar's Success Abroad

Banc of America Securities Chief Financial Analyst Michael L. Savner increased earnings estimates for DreamWorks Animation SKG (nyse: DWA - news - people ) following Madagascar's better-than-expected international performance.

"We continue to believe that the success of Madagascar at the international box office and the commercial success of DreamWorks Animation’s upcoming film slate will drive greater visibility in the stock going forward," said Savner.

Madagascar has grossed over $315 million at the international box office. Savner doesn't expect DreamWorks' recent release, Wallace & Gromit: The Curse of the Were-Rabbit, to generate much revenue in the fourth quarter, but he expects the company to sell 15.6 million units of the Madagascar home video.

Savner increased his third-quarter 2005 earnings estimate for DreamWorks to 2 cents per share on revenue of $66.7 million, from a loss of 13 cents per share on revenue of $19.5 million. He maintained a “buy” rating and $29 price target on the stock.

In its coverage of entertainment, Banc of America's top picks are Viacom (nyse: VIA.B - news - people ) and News Corp. (nyse: NWS - news - people ), both rated "buy" with respective price targets of $43 and $22. Its least favorite is Pixar (nasdaq: PIXR - news - people ), rated “neutral” with a $40 price target.

Maya Roney

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