Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Anusuya Lahiri

Analysts Express Bullishness In Disney Courtesy Parks, Travel Recovery, Movies

  • Analysts continue to express their admiration for The Walt Disney Co (NYSE:DIS).
  • Rosenblatt analyst Barton Crockett initiated coverage on Disney with a Buy rating and a $177 price target (38.5% upside). 
  • Crockett saw Disney's and its peers' theme parks as the most stimulating demand environment ever, judging by record pricing leverage and big crowds. 
  • Also Read: BofA Is Bullish On Disney While MoffettNathanson Is A Tad Defensive - Read Why
  • Consumers swarmed back to Disney parks in more significant numbers than anticipated and spent substantially more per person, reflecting pent-up demand.
  • He saw more catalysts upon resuming international travel resumes and Disney's cruise ships. 
  • Crockett saw Disney as relatively well-positioned as an early mover with scaled leadership, a global footprint, and a distinct brand in DTC streaming.
  • Disney had three big Marvel titles slated for theaters this fiscal (sequels to Doctor Strange, Thor, and Black Panther.) 
  • Crockett saw the Panther sequel reach pre-pandemic performance levels in November, with $1.2 billion at the global box office. Avatar 2 is due in December.
  • JPMorgan analyst Philip Cusick lowered the price target on Disney to $175 from $200 (36.9% upside) and kept an Overweight rating.
  • Cusick saw Disney's Parks business as a stand-alone company with the intellectual property that would trade well ahead of Parks peers' 9-10 times EBITDA. 
  • Disney's streaming businesses have the scale and management conviction to, over time, be a "massive global streamer, thanks to the larger scale of a worldwide audience.
  • Price Action: DIS shares closed higher by 3.24% at $131.91 on Tuesday.
  • Photo by Wikimedia Commons
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.