Disney Parks Win Another Analyst's Confidence After Goldman Sachs, Wells Fargo, BofA

  • Morgan Stanley analyst Benjamin Swinburne has an Overweight rating and a $170 price target (28.3% upside) on The Walt Disney Co DIS.
  • Swinburne saw Disney implementing Technology and operational tools in its parks that should drive structurally higher growth and incremental margins, and he raised his Parks estimates accordingly. 
  • Swinburne, who saw a multi-year period of robust Parks growth helping create downside support for shares, believes that Disney's streaming success is "not priced in at current levels," forecasts 30% adjusted EPS compound annual growth from FY22 through FY24. 
  • Disney "maybe in year one of a historically strong period of growth at its Parks business," with drivers including Pent-up consumer demand and spending levels, Technology and operational tools, New assets coming online from three new cruise ships to a re-imagined Epcot in Florida.
  • Multiple analysts, including Goldman Sachs, Wells Fargo, BofA, and Loop Capital, are bullish on Disney Parks.
  • Price Action: DIS shares traded lower by 1.55% at $130.52 in the market session on the last check Thursday.
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