Morgan Stanley analyst Benjamin Swinburne raised the price target on Walt Disney (NYSE: DIS) to $160.00 (from $135.00) ahead of the company's 12/10 investor day, where the company is expected to lean into streaming with higher spend and more original content that will speed the adoption of its DTC platforms.

The analyst maintained an Overweight rating, stating "Our updated outlook forecasts streaming subscriptions to more than double from ~110mm in FYE20 to 230mm in FYE25, and for DTC streaming revenues to nearly triple, from ~$10bn to $30bn over that time frame - a portfolio larger than Netflix today. That outlook requires additional investment, which combined with a longer than expected COVID impact to Parks & Film, leads us to lower our near-term adj. EPS outlook materially. It will be a long, non-linear climb out of this investment/COVID earnings hole, but with success to date in streaming and recent vaccine news, our confidence has increased in it scaling to new heights. In this report we take a closer look at Disney’s streaming assets and key questions into the Investor Day."