Disney's Shareholder Meeting Wednesday: Don't Expect The Agenda To Move The Stock

David Miller of Loop Capital expects Wednesday’s shareholder meeting of Walt Disney Co DIS in Denver won’t be a catalyst for the stock, saying, “It hardly ever is.”

“[W]hile the shareholder meeting will likely see a lot of press today, we really do not expect today's agenda to move the stock in any meaningful way in the very near-term,” Miller wrote in a note.

Next Catalyst

Miller said the next catalyst for the stock will be the release of "Beauty & The Beast "this Friday. The analyst expects the movie to open at $120 million and sees a $360 million DBO cume, and a $785 million global cume.

Miller, who reiterated his Buy rating and $118 price target, said 2017 is a year of transition and 2018 will bring a slew of catalysts for the stock.

2018 Catalysts

In 2018, Disney will have more normalized pension costs, a direct-to-consumer offering of ESPN, profitability at the Shanghai park, and the opening of Avatar-World at Walt Disney World (WDW) in Orlando.

On the movies front, Disney will see the release of "Thor 3," "Black Panther," "Avengers 3" and "The Incredibles 2" next year.

Shares of Disney closed Tuesday’s regular trading session at $110.86. The shares has gained about 22 percent in the last five months.

Related Link: Disney Misses Q1 Sales, Consumer Products Down 23%