Guggenheim lowered the firm’s price target on Disney (DIS) to $115 from $140 and keeps a Buy rating on the shares as the firm reassesses its valuation metrics and the path ahead with Josh D’Amaro becoming CEO today. Since outgoing CEO Bob Iger returned in late 2022 and current CFO Hugh Johnston took that post in December 2023, Disney shares have underperformed the S&P 500 by 60% and 38%, respectively, notes the analyst, who sees several opportunities to rebuild investor confidence.
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