Analyst Jason Bazinet from Citi maintained a Buy rating on Walt Disney (DIS – Research Report) and keeping the price target at $125.00.
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Jason Bazinet has given his Buy rating due to a combination of factors that suggest potential growth for Walt Disney. Despite mixed data regarding Disney’s US-based Experiences revenue, Bazinet sees opportunities for the company to perform well. The elasticity of ticket prices, airport passenger numbers, hotel tax receipts, and travel data present a varied picture, but Bazinet notes that the correlations between these data points and Disney’s revenue are not strong, indicating that Disney’s performance could diverge positively from these indicators.
Furthermore, Bazinet highlights some positive factors that could offset the mixed data. The weakening of the USD is expected to benefit Disney’s reported results from international properties. Additionally, the launch of new cruise ships, Adventure and Destiny, could contribute to Disney’s revenue growth. These elements, combined with the potential for deviation from third-party data, underpin Bazinet’s optimistic Buy rating for Disney’s stock.
In another report released today, Bank of America Securities also maintained a Buy rating on the stock with a $140.00 price target.
Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DIS in relation to earlier this year.