What's Going On With Disney Stock Today?
Portfolio Pulse from Ryan Gustafson
Shares of The Walt Disney Company (NYSE:DIS) are trading lower after Evercore lowered its price target on the stock and reports emerged of potential movie release delays due to striking actors. The company is reviewing its film release schedule for the rest of the year, which could impact films slated for release this year. Evercore ISI Group analyst Vijay Jayant maintained Walt Disney with an Outperform and lowered the price target from $130 to $110.
July 24, 2023 | 7:53 pm
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Disney's stock is trading lower due to a lowered price target by Evercore and potential movie release delays due to striking actors. The company's film release schedule is under review, which could impact films slated for release this year.
The lowered price target by Evercore and the potential movie release delays due to striking actors are negative news for Disney. This could lead to lower revenues in the short term, which is likely causing the stock to trade lower.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100