Jeff Mills Is Bullish On Disney

Jeff Mills spoke on CNBC's "Fast Money" about Walt Disney Co DIS. He is impressed by the company's ability to execute properly and he thinks that it is going to continue to do so.

The stock is down 30% year-to-date and it is trading 24% below its 200-day moving average, said Mills. He sees some room to recover because the market is trading only 7% below its 200-day moving average. The current valuation of 16 time trailing earnings is below the 23 multiple from the end of the last year and its 15-year average is 18, which makes Mills confident that the stock is undervalued.

Mills understands that the business is going to be challenged, but he thinks that a lot of bad news is already reflected in the price. The company is going to be around for a long time and Mills wants to own it at its current price.