Analysts Express Bullishness In Disney Courtesy Parks, Travel Recovery, Movies

Analysts continue to express their admiration for The Walt Disney Co DIS.
Rosenblatt analyst Barton Crockett initiated coverage on Disney with a Buy rating and a $177 price target (38.5% upside).
Crockett saw Disney's and its peers' theme parks as the most stimulating demand environment ever, judging by record pricing leverage and big crowds.
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Consumers swarmed back to Disney parks in more significant numbers than anticipated and spent substantially more per person, reflecting pent-up demand.
He saw more catalysts upon resuming international travel resumes and Disney's cruise ships.
Crockett saw Disney as relatively well-positioned as an early mover with scaled leadership, a global footprint, and a distinct brand in DTC streaming.
Disney had three big Marvel titles slated for theaters this fiscal (sequels to Doctor Strange, Thor, and Black Panther.)
Crockett saw the Panther sequel reach pre-pandemic performance levels in November, with $1.2 billion at the global box office. Avatar 2 is due in December.
JPMorgan analyst Philip Cusick lowered the price target on Disney to $175 from $200 (36.9% upside) and kept an Overweight rating.
Cusick saw Disney's Parks business as a stand-alone company with the intellectual property that would trade well ahead of Parks peers' 9-10 times EBITDA.
Disney's streaming businesses have the scale and management conviction to, over time, be a "massive global streamer, thanks to the larger scale of a worldwide audience.
Price Action: DIS shares closed higher by 3.24% at $131.91 on Tuesday.
Photo by Wikimedia Commons

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