Walt Disney (DIS) Needs A Big Disney + Launch to Capture Upside - Credit Suisse

Credit Suisse analyst Douglas Mitchelson reiterated an Outperform rating and $150.00 price target on Walt Disney (NYSE: DIS) after surveying 40 investors to gauge investor sentiment. The headline results are bullish with (58% now overweight, vs. 37% pre-Analyst Day in April). The Disney+ launch on 11/12 is expected to be a catalyst but conversations indicate that there will be limited upside without a big launch.

The analyst stated "Disney is pricing in a 6m subscriber outcome for this December 31st, while at 8m subscribers by then investors see Disney at $145/share and at 10m subscribers they expect $155. The 10m subscriber level seems to be an inflection point for sentiment; 70% of investors would start new positions or add to existing ones there. Investors noted Disney’s streaming businesses are valued in the stock currently at $35b, but believe they are worth $47b (though with a wide dispersion of responses)".

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 $135.49 yesterday.

You May Also Be Interested In

• Disney sues FCC over early license review of ABC stations
• Jefferies Downgrades Sunway Healthcare Holdings (SUNMED:MK) to Hold
• Goldman Sachs Downgrades Shanghai Jahwa United (600315:CH) to Neutral