Disney (DIS): 10K Disclosure Shows Subs Falling, But Slower Than Expected - Stifel

November 25, 2016 6:38 AM EST
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Price: $104.86 +1.43%

Rating Summary:
    18 Buy, 22 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 21 | Down: 36 | New: 11
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Stifel analyst, Benjamin Mogil, reiterated his Buy rating on shares of Walt Disney (NYSE: DIS) after a 10K disclosure showed ESPN subscribers down 2mn or around 2% in F2016, a figure that is likely neutral for expectations and negates some of the large sequential subscriber erosions which were noted by Nielsen earlier last month.

The -2% was an improvement over past years’ trends though still concerning to margins. Disney Channel, though less of a focal point but one which highlights the challenges around SVOD and kids impacting linear channels, saw a similar 2mn -2% subscriber decline in line with recent years’ trends.

No change to the price target of $100.

For an analyst ratings summary and ratings history on Walt Disney click here. For more ratings news on Walt Disney click here.

Shares of Walt Disney closed at $98.26 yesterday.



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