Barclays analyst Kannan Venkateshwar lowered the firm’s price target on Disney (DIS) to $115 from $125 and keeps an Overweight rating on the shares as part of a Q1 preview for the media group. While advertising second derivatives may be better in Q1 due to stability in spot rates, macro headwinds may not be fully reflected yet in estimates, the analyst tells investors in a research note.
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