Macquarie Downgrades Walt Disney (DIS) to Neutral, 'Current difficulties cloud long-term potential'

Macquarie analyst Tim Nollen downgraded Walt Disney (NYSE: DIS) from Outperform to Neutral with a price target of $103.00 (from $125.00).

The analyst comments "We downgrade DIS from Outperform to Neutral as we see near-term uncertainties weighing on earnings, valuation, and sentiment. Linear networks are deteriorating, DTC is a work in progress with the biggest decision and execution on ESPN still ahead, and Parks growth is slowing. We still appreciate Disney’s efforts and expect its transformation to streaming to succeed, but we see the stock as range-bound for now."

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 $93.76 yesterday.

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