3 Reasons Disney Stock Could Hit $100 Soon
It's not easy to be bullish on Walt Disney (NYSE: DIS) these days. Its flagship media networks segment is struggling. Negotiations between studios and the Screen Actors Guild reportedly broke down on Wednesday, fueling fears of a prolonged drought of fresh content for Disney's already languishing slate of TV shows and theatrical releases. Geopolitical and economic unrest threaten to cool down its previously resilient theme park business.
The pessimism is so thick you can cut it with the same knife that carved a nine-year low in the stock just last week. However, with the stock moving 8% higher since hitting what may be rock bottom five trading days ago, is it wrong to suggest that it's a good time to be a contrarian when it comes to the House of Mouse? It's been more than five months since Disney shares last traded in the triple digits. Let's go over a few reasons it may get back up to over $100 before the end of this year.
It's been a week of hikes at Disney, and not just because this is football season for the ESPN parent. The media giant officially raised prices for its premium streaming services on Thursday. Monthly rates for ESPN+ and ad-free versions of Hulu and Disney+ are now 10%, 20%, and 27% higher, respectively.
Source Fool.com
