Why One Analyst Thinks Disney Is a 'Buy'

Disney stock rose in trading on Wednesday following the company's earnings beat, and one analyst thinks the company's shares will go even higher, and he offers investors a lot to keep them

interested in the stock.

Following the earnings beat, Barton Crockett, an analyst at Lazard Capital Markets, increased his price target for the entertainment company's shares to $63 from $60 a share. He described

the company's TV network group to CNBC's "Squawk on the Street" as great outperforming stories.

"These guys have content that all kinds of distributors want — traditional distributors, internet distributors," he said. "They have pricing leverage for that, and that's really driving a

very healthy top line."

Crockett forecast that the company would see an acceleration in fees for its cable networks during the March quarter compared to the December quarter — a trend that he predicted would last

for the next several quarters.

Despite the uncertain broad economic trends, Crockett said Disney's theme park business in surprisingly healthy.

"I'm amazed at how much people still want to go to theme parks and how much pricing leverage you have, given how expensive it is, but people are going," he said. "The numbers are real."

He added that the company is investing in its theme parks, which should yield margin improvement.

"I think the setup is good for the next couple of years," he said. "Then you go into 2015, 2016, you've got 'Star Wars' movies coming back. You've got the Shanghai theme park launch. There's

a lot here to keep you interested in Disney, so I like the stock here."

—By CNBC.com's Katie Little; Follow on Twitter @Katie_Little

Additional News: Disney Earnings Beat; 'Star Wars' Spinoffs Planned

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