Investment firm Redburn Atlantic upgrades Walt Disney shares to buy, citing a major inflection point for the company and a 32% upside potential for the stock.
Redburn Atlantic believes it's time to invest in Walt Disney, upgrading its shares to buy and raising the price target to $147 from $100. This signals a 32% upside for the stock. Disney shares finished 2024 with a 23% gain and ticked higher in premarket trading following the upgrade. Analyst Hamilton Faber sees the company approaching a major inflection point. With structural issues waning, he expects the stock to eventually trade at a 10% premium to the S&P 500.
Faber attributes Disney's changing fortunes to a rebound in content performance, citing titles like 'Deadpool & Wolverine' and 'Inside Out 2' as successes. Management's focus on streaming technology also bolsters Faber's confidence. He points to Disney's direct-to-consumer ESPN offering, which could reach 21 million subscribers by 2028 with minimal incremental costs. Furthermore, Disney's three-year guidance, projecting high-single-digit EPS growth in FY25 with double-digit growth in the following two years, instills confidence in the analyst. Faber believes this outlook is based on fading structural issues, long-term growth at Parks, and streaming growth. Analysts are generally optimistic about the stock
DISNEY INVESTMENTS STREAMING ENTERTAINMENT STOCK MARKET
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