Greedy DreamWorks Already Rushing Out Kung Fu Panda 2

The Animation Guild blog has people buzzing that DreamWorks is already working on a sequel to this summer’s Kung Fu Panda. The writer was at the DreamWorks building on tuesday, where he noticed that, “A story crew has started early work in Kung Fu Panda, the Sequel, even while animators are hand-drawing new material for the DVD of Kung Fu Panda, the original.”

Pali Capital analyst Richard Greenfield picked up on this today, upgrading the stock’s price target from $32 to $35 and predicting an earnings increase in 2011, when he believes the Kung Fu Panda sequel will be released.

The original Kung Fu Panda has already made nearly $165 million in the U.S. alone and $233 million worldwide. Incidentally, this means that the film is doing better domestically than abroad, which is unusual nowadays. The film has already rocketed past the $300 million worldwide Greenfield predicted even though it will likely take a hit from Pixar’s Wall-E this weekend.

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