Wolfe Research upgraded Disney (DIS) to Outperform from Peer Perform with a $112 price target The firm says the Disney “castle” is “intact” amid risk of a recession. The company has “durable advantages” in parks, cruises, and streaming, which create a path to $7 in earnings per share, the analyst tells investors in a research note. Wolfe adds that at $85 per share, Disney trades at a 23% discount to the S&P 500. The firm sees only 17% downside in a “worst” case scenario.
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