Disney Stock Set For 20% Upside As Bob Iger's Turnaround Strategy Gains Momentum, Says BofA: 'Appears To be In Command And Control And On A Growth Offensive'
Portfolio Pulse from Benzinga Neuro
Bank of America predicts a 20% rise in Disney (NYSE:DIS) stock as CEO Bob Iger's turnaround strategy shows positive results. The bank has upgraded its price target for Disney from $130 to $145, citing strong performance in the theme park sector and a significant boost in net subscriber growth following a carriage deal with Charter. Disney's streaming services are expected to reach profitability in the fourth quarter, aided by a targeted $7.5 billion in cost savings and an anticipated surge of 7.5 million new Disney Plus subscribers.
April 02, 2024 | 12:32 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Disney's stock is expected to rise by 20% according to Bank of America, following a successful turnaround strategy by CEO Bob Iger. The bank has raised its price target from $130 to $145, highlighting strong theme park performance and increased subscriber growth due to a deal with Charter.
The positive outlook from Bank of America, including the raised price target, reflects confidence in Disney's current strategy and operational performance, particularly in theme parks and streaming services. The anticipated profitability of streaming services and the strategic partnership with Charter are likely to contribute to investor optimism, potentially driving the stock price up in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100