Disney price target lowered to $105 from $130 at UBS

UBS lowered the firm’s price target on Disney (DIS) to $105 from $130 and keeps a Buy rating on the shares. Given the current macro uncertainty, the firm is updating forecasts across Disney’s most sensitive revenue streams, including advertising and Parks, but believes fiscal Q2 results will reflect resilient demand and still expects EPS guidance to be intact given solid performance year-to-date, the analyst tells investors in a preview.