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Analysts revise Disney stock price targets after earnings

Analysts revise Disney stock price targets after earnings

The Walt Disney Company’s (NYSE: DIS) most recent earnings report, published on May 7, proved mixed divisive and offered investors little certainty about what could be next for the stock.

Indeed, while the House of Mouse handily beat the earnings per share (EPS) estimates, recording $1.21 instead of the $1,10 that was predicted, its revenue slightly disappointed as it came in at $22.08 billion compared to the forecasted $22.11 billion.

Similarly, while it is positive that Disney reported its streaming service – a notoriously difficult section to make profitable – has been break-even in the trimester, the entertainment blue-chip’s forward-looking guidance was rather meek.

DIS stock price chart

Given the dualities of the report, it comes as little surprise that the movement of DIS shares in the stock market have also been less than decisive.

Though the shares briefly spiked on May 7, they are, nonetheless, a substantial 6.78% down in the last full week of trading. The most recent decline  proved enough to place DIS securely – 9.72% – in the red on the monthly chart.

Still, Disney has risen sufficiently since January 2, it remains 16.99% in the green year-to-date (YTD), and Disney stock price today stands at $106.12.

DIS stock YTD price chart. Source: Finbold

Analysts offer mixed targets after earnings

As it turns out, investors weren’t the only ones to have a mixed reaction to Disney’s most recent earnings report.

Analysts of major firms offered numerous revisions to their ratings and price targets, and though the general attitude remains bullish, with experts nearly universally retaining ‘buy’ ratings and their variations, the stock price targets proved more checkered.

For example, despite still finding DIS shares to be a good buy, analysts at Barclays and UBS lowered their 12-month price targets for the stock from $135 to $130 and from $140 to $135, respectively.

On the other hand, Loop Capital provided a massive upward revision, setting the 52-week expectations for Disney shares at $140 – significantly above the previously forecasted $113. The large bump can largely be attributed to the streaming division’s expected and achieved move to break-even, but also to an anticipated strength of the movie division due to the numerous upcoming releases.

Wells Fargo (NYSE: WFC), Needham, and Bank of America (NYSE: BAC) also all maintain frailty high targets at $136, $145, and $145, respectively.

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