Barclays Considers Disney Fair Priced, Downgrades To Equal Weight

  • Barclays analyst Kannan Venkateshwar downgraded The Walt Disney Co DIS to Equal Weight from Overweight with a price target of $175, down from $210, implying priced at the current level. 
  • The growth of Disney+ has slowed significantly despite the launch of new franchise titles and Star+, Venkateshwar notes. 
  • As such, the analyst believes Disney faces a "tough" task to get to its long-term streaming subscription guidance. When assuming peak pre-streaming price-to-earnings multiples for Disney on present 2024 consensus earnings estimates, the stock has significant downside risk from current levels, Venkateshwar says.
  • Price Action: DIS shares traded lower by 2.21% at $172.50 in the premarket session on the last check Monday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: NewsDowngradesPrice TargetAnalyst RatingsMoversTechTrading IdeasBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!