Recommendations and target prices
Among the 25 analysts providing recommendations on the Walt Disney Company (DIS) stock, 19 have given it “buys,” and five have given it “holds.” Only one analyst has given it a “sell” recommendation. Analysts have maintained a target price of $130.91 on the stock, implying a potential upside of ~12.3% based on its closing price of $116.6 on April 11.
Two analysts have upgraded their ratings and price targets on Disney stock in the last two days. Both BMO Capital and Cowen have increased their ratings on the stock to “outperform” from “market perform.” While BMO Capital raised its price target to $140 from $114 on April 10, Cowen hiked its price target on Disney to $131 from $102 on April 9. Analysts are optimistic about Disney’s video streaming service, Disney+, which is scheduled to launch on November 12 to challenge streaming giants such as Netflix (NFLX), Amazon (AMZN), AT&T’s (T) HBO Now, Comcast’s (CMCSA) NBCUniversal, AT&T’s WarnerMedia, and Apple.
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Disney+ will stream a library of new and iconic blockbuster films, TV shows, and animated content on its platform. As a result of the Disney+ launch, Disney will break ties with Netflix, which will cost it $150 million this year.
Disney+ will feature programming from the Star Wars and Marvel universes, and it will also include film series from Toy Story creator Pixar and National Geographic. It will also feature the entire library of Fox’s The Simpsons and other 20th Century Fox titles, such as The Princess Bride and Malcolm in the Middle.
Amid the good news, Disney’s CEO, Bob Iger, announced that he would step down from his position in 2021 and wouldn’t extend his contract.