Disney price target raised to $120 from $115 at Guggenheim

Guggenheim analyst Michael Morris raised the firm’s price target on Disney (DIS) to $120 from $115 and keeps a Buy rating on the shares. Fiscal Q2 results reflected broad-based strength across all three segments, says the analyst, who adds that the earnings call provided incremental specificity around the Disney+ product vision, explicit identification of five AI use-case verticals, the decision to walk away from a planned $1B OpenAI Sora investment, and gaming strategy details.