Broadridge Financial Solutions , which provides proxy services for big corporations during boardroom brawls, could generate as much as $50 million in event-driven revenue from the Peltz-Disney war, according to Evercore ISI analyst David Togut.
During Trian's 2017 proxy battle against Procter & Gamble, the consumer giant paid about $60 million to Broadridge for proxy service, Togut said.
Evercore ISI said a company's retail investor base is the best representation for Broadridge's revenue.
Since Disney has 81% of the retail shares P & G has, it estimated that Broadridge could make up to $50 million from the proxy war.
Evercore ISI set an outperform rating on Broadridge and raised its 12-month price target to $230 from $226.
Persons:
Nelson Peltz's, David Togut, Broadridge, Togut, Evercore, Peltz, Trian, Ike Perlmutter, Bob Iger, — CNBC's Michael Bloom
Organizations:
Disney, Procter & Gamble, Marvel Entertainment, Evercore ISI