Walt Disney Stock Has 13% Upside, According to 1 Wall Street Analyst
Share prices of Walt Disney (NYSE: DIS) are up nearly 25% year to date, but analysts at MoffettNathanson believe the rally isn't over. Last week, the firm maintained its buy rating and raised the near-term price target on the shares to $125, up from $120. This represents an 11% upside from Disney's current share price of $112.75.
Disney has fallen on hard times, but MoffettNathanson analysts are more enthusiastic about Disney's prospects following CEO Bob Iger's comments at Morgan Stanley's Technology conference.
Iger returned to Disney as CEO over a year ago with a promise to return the company to profitable growth, and the most recent earnings report showed significant progress in achieving that goal. Iger said he is confident Disney's streaming services, which reported huge losses on the bottom line last year, will reach profitability by the end of fiscal 2024 in September. Narrowing losses in the direct-to-consumer segment sent Disney's adjusted earnings up 23% year over year in the December-ending quarter.
Source Fool.com
