Analysts’ upgrades on Disney
On April 10, the Walt Disney Company (DIS) stock was upgraded by BMO Capital analyst Daniel Salmon, who raised its rating to an “outperform” from a “market perform” and hiked its price target to $140 from $114. Salmon is positive about the company’s launch of its Star Wars–themed domestic parks, its Disney+ streaming service, and its buyback program.
The upgrade by BMO Capital follows Cowen and Company’s rating and price target upgrade on April 9, which boosted Disney stock ~1.7%. Cowen analyst Doug Creutz raised the rating on Disney stock to an “outperform” from a “market perform” and the stock’s 12-month price target to $131 from $102 due to its new streaming service and the upcoming release of the next Star Wars film. MoffettNathanson and Citigroup also raised their price targets on Disney. While MoffettNathanson increased its price target to $134 from $132 with a “buy” rating, Citigroup raised its price target by $6 to $132 on April 9.
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Stock price movement
Disney stock has risen 6.9% YTD (year-to-date) as of April 10. In comparison, the stocks of Disney’s media peers Comcast (CMCSA), Netflix (NFLX), Dish Network (DISH), and CBS (CBS) have risen 21.3%, 36.0%, 38.6%, and 18.5%, respectively, YTD. Comcast also received an upgraded rating from Macquarie on April 9.