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Disney shares may rise 50 percent in 3 years - Barron's

A part of the signage at the main gate of The Walt Disney Co. is pictured in Burbank, California, May 7, 2012. REUTERS/Fred Prouser

NEW YORK (Reuters) - Walt Disney Co could climb 50 percent over the next three years on its uncanny ability to generate profits from its businesses including movies, merchandise and parks and cruise lines, Barron's said in its latest edition published on Sunday.

Wall Street analysts forecast the Burbank, California-based entertainment and media company will grow its earnings per share by 16 percent this year to $5.03 and 13 percent next year to $5.67. This put Disney's stock price at 18 times earnings, the financial weekly said.

On Friday, Disney shares closed at $110.37, about $3 below its high set on May 5. This compared with the $165 Barron's said they could achieve by 2018.

Analysts anticipate a string of box office hits over the next few years including the seventh installation of the "Star Wars" saga by the end of this year, according to Barron's.

Shanghai Disney, which is set open next spring, should score handsomely for the company's parks and resorts division. Disney is a 43 percent owner of the park, while Chinese firms own the rest, Barron's said.

It hasn't been all smooth sailing for Disney.

Its "Tomorrowland" took in $32.2 million in its opening weekend at the movie box last weekend, falling short of expectations.

The Internet has cut into its television ratings, Barron's added.

"These seem offset by potential rewards. Few companies right now have more or bigger likely winners on the horizon," the paper said.

(Reporting by Richard Leong; Editing by Eric Walsh)