Loop Capital Remains Bullish on Disney Despite Slashing Price Target by 13 Percent

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Loop Capitalanalyst Alan Gould lowered the price target on The Walt Disney Co. to $165 from $190 (19 percent upside) but kept a Buy rating on the shares.

The analyst noted the performance of the company’s Parks business is “more than a reopening play,” boosting his operating income potential on the segment to over $6.5 billion versus the prior peak of $4.4 billion in FY19.

However, Disney needs to resolve the renewal process for Indian Premier League cricket broadcasting rights favorably before significant price appreciation.

Goldman Sachs, Wells Fargo,and BofA expressed their bullishness on Disney following the company’s park-focused investor day.

Walt Disney World saw massive crowds and sellouts in the first months of 2022, which is typically a slower period.

Disneyland Paris raised the annual pass and day ticket prices.

By Anusuya Lahiri

© 2021 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.

Benzinga

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