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On Tuesday, Rosenblatt analysts raised the price target for Walt Disney (NYSE:DIS) stock to $140 from the previous $135, while maintaining a Buy rating. Currently trading at $112.95, Disney’s stock has shown strong momentum, trading near its 52-week high of $118.63. The adjustment reflects updated estimates across various segments of the company, including experiences, ad sales, ESPN streaming, and movies. According to InvestingPro, 12 analysts have recently revised their earnings estimates upward for the upcoming period.
The analysts noted that several areas of Disney’s business are currently performing well, with revenue growing at 5.42% and maintaining a GOOD financial health score. They expressed optimism that, should a recession be avoided, there is potential for estimates and the stock’s valuation multiple to increase.
The decision to increase the price target by $5 is based on modestly higher estimates for Disney’s performance. The analysts reaffirmed their Buy rating, indicating confidence in the company’s future prospects.
Walt Disney Co., listed on the New York Stock Exchange under the ticker NYSE: DIS, continues to be a focus for investors, with its diverse business operations spanning entertainment, media, and theme parks.
In other recent news, NBCUniversal, a subsidiary of Comcast (NASDAQ:CMCSA), has made a bid to acquire Major League Baseball (MLB) broadcasting rights previously held by ESPN. The offer, reportedly less than ESPN’s annual $550 million deal, includes regular-season and postseason games. If successful, NBC plans to air games on Sunday nights and stream them on Peacock, along with potentially obtaining rights to the first round of the postseason and the Home Run Derby. Meanwhile, Disney’s ESPN has unveiled its new direct-to-consumer streaming service set to launch in early fall. This service will feature two subscription plans: an unlimited plan at $29.99 per month and a select plan at $11.99 per month. The unlimited plan offers access to all ESPN networks and 47,000 live events annually, while the select plan includes content available on ESPN+. Existing ESPN+ subscribers will transition to ESPN’s new service based on their current subscription level. Further details about the launch will be announced later this summer.
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