1 Analyst Thinks Disney Stock Is Going to $120
Walt Disney Company (NYSE: DIS) stock is off to a terrific start in 2024, gaining 19%. That's the good news. The bad news is Disney stock did significantly worse last year, and has underperformed the S&P 500 by more than 17% over the past 52 weeks.
Can returning champion CEO Bob Iger pull Disney stock out of its funk, and get the stock price moving higher again? Bernstein thinks it can. In a note covered on StreetInsider Tuesday, the NYC investment banker reiterated its "outperform" rating on Disney stock and tweaked its price target higher, to $120 a share.
Bernstein's bet hinges on its belief that the entertainment company is serious about cracking down on password sharing among subscribers to Disney+ and Hulu streaming services. According to the analyst, Disney is losing about $1.2 billion a year from customers sharing passwords (and from potential customers not paying up).
Source Fool.com
