What's Going On With Disney Stock Today?

Walt Disney Co DIS shares are trading higher Monday amid multiple developments. Here’s a look at what’s going on.

What To Know: Blackwells Capital sent a letter to Disney shareholders on Monday urging shareholders to vote against Trian Partners founder and CEO Nelson Peltz, who nominated himself and former Disney CFO Jay Rasulo to Disney's board as part of an ongoing proxy fight with the entertainment giant.

“The Board does not need nominees driven by personal grievances or animus towards management, as we believe Trian Partners’ (“Trian”) nominees Nelson Peltz and Jay Rasulo are,” Blackwells Capital said in the letter.

Blackwells instead recommended that shareholders vote for its own board nominees. The firm argued that its nominees would help drive growth at the company and even explore strategic opportunities including a potential separation of Disney into three entities.

Following the letter from Blackwells Capital, Trian reaffirmed its board recommendations in a separate press release. Disney’s annual shareholder meeting is set to take place on April 3. Disney shareholders will now have the option of choosing between Disney’s 12 nominees, Trian’s nominees and Blackwells’ nominees.

Barclays analyst Kannan Venkateshwar also upgraded Disney from an Equal-Weight rating to an Overweight rating on Monday and raised the price target from $95 to $135, which could be helping fuel the move higher in shares.

See Also: Disney Slams Activist Peltz’s ‘All-Black Cast’ Critique: ‘This is Exactly Why He Shouldn’t Be Near A Creatively Driven Company’

DIS Stock Prediction 2024

Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.

Shares of Disney have an average one-year price target of $122.25, representing an expected upside of 2.95%.

Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. No analysts have bearish recommendations on Disney, while six analysts have bullish ratings. The street high price target from Tigress Financial is $136, while the street low from Barclays is $95.

DIS Price Action: Disney shares were up 2.46% at $118.72 at the time of writing, according to Benzinga Pro.

Photo: Pexels from Pixabay.