UPDATED with more stock gains
Benjamin Swinburne of Morgan Stanley, in a note to clients, said he is now forecasting that Disney will reach more than 130 million global subscribers by 2024 across its three streaming services, Disney+, ESPN+ and Hulu. Last month, Disney said it was taking full operational control of Hulu and buying out minority stakeholder Comcast in a multi-year arrangement. The company has talked about bundling together the three services but has not yet disclosed any of those bundle details.
He increased his 12-month price target for Disney stock to $160 from $135 and maintains an “overweight,” or “buy” rating on the shares. With two hours left in Thursday’s trading day, the stock was at $140.59, within sight of its 52-week high of $142.37, though volume was below its average level.’s in terms of penetration. With 149 million global subscribers, Netflix is in between 25% and 30% of broadband households, but Disney will benefit from more established infrastructure, the analyst said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China audit crackdown is a Wall Street nightmareU.S. Senator Marco Rubio wants to force mainland companies listed on American exchanges to submit to local oversight - or leave. The problem is real. But torching shares with a market value of roughly $1.8 trln and millions in fees is a heavy price to pay for transparency.
Read more »
Stocks in Asia set to slide following overnight slip on Wall StreetShares in Asia Pacific were set to trade mixed on Thursday following an overnight slip for stocks on Wall Street.
Read more »
Cybersecurity Firm CrowdStrike Soars in Wall Street DebutThe cybersecurity specialist’s shares leapt more than 80% above their IPO price in their Wall Street debut, valuing the company above $12 billion.
Read more »
Tanker trouble; CrowdStrike surges; Global markets mixedToday’s top business headlines with ChristineRomans before the opening bell on Wall Street:
Read more »
Future Looks Bright in Streaming Age, Say Wall Street Experts at AIMP Indie Music Publishing SummitMusic publishing valuations are back at a ten-year high, currently ranging from 14-20 times the net publisher’s share (i.e., gross profit) -- and with streaming’s growth, the next five years looks bright. That’s the assessment of a group of Wall Street players, speaking in New York City today at a panel on catalog valuations at the indie music publishing summit hosted by the Association of Independent Music Publishers.
Read more »
Wall Street treads water after recent rallyU.S. stocks ended near flat and the Dow snapped a six-day winning streak on Tues...
Read more »