Loop Capital Remains Bullish On Disney Despite Slashing Price Target By 13%

• Loop Capital analyst Alan Gould lowered the price target on The Walt Disney Co (NYSE:DIS) to $165 from $190 (19% upside) but kept a Buy rating on the shares. 
• The analyst noted the performance of the company's Parks business is "more than a reopening play," boosting his operating income potential on the segment to over $6.5 billion versus the prior peak of $4.4 billion in FY19. 
• However, Disney needs to resolve the renewal process for Indian Premier League cricket broadcasting rights favorably before significant price appreciation.
• Goldman Sachs, Wells Fargo, and BofA expressed their bullishness on Disney following the company's park-focused investor day. 
• Walt Disney World saw massive crowds and sellouts in the first months of 2022, which is typically a slower period.
• Disneyland Paris raised the annual pass and day ticket prices.
• Price Action: DIS shares closed higher by 1.15% at $138.58 on Monday.