- Morgan Stanley analyst Benjamin Swinburne lowered the price target on The Walt Disney Co DIS to $170 from $185 and reiterated an Overweight rating on the shares. The price target implies an upside of 19.34%.
- Swinburne lowered his long-term direct-to-consumer margin expectations following the reset of his Netflix Inc NFLX expectations.
- Related Content: Here Are Two IT Stocks That Morgan Stanley Upgraded Today
- Swinburne views Disney+ as both "strategically attractive and off to a strong start."
- Swinburne is increasingly focused on long-term earnings power and earnings growth expectations after DTC turns profitable, which he forecasts will happen in FY24.
- Price Action: DIS shares traded higher by 0.18% at $142.77 in the premarket session on the last check Tuesday.
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