Mark Tepper Recommends Buying Disney Shares At This Price, Says Omicron Presents Challenges

On CNBC’s "Trading Nation," Mark Tepper of Strategic Wealth Partners said he preferred Netflix, Inc. NFLX to Walt Disney Company DIS back in April 2019 when Disney+ was announced, and continues to prefer the former.

Disney quickly went from $116 to $130 at that time, but since then Netflix has “done very well" relative to Disney.

Due to the concerns surrounding the omicron variant, Disney is expected to face several challenges which will impact its cruises and parks businesses. There has been a decline in the company’s Disney+ subscriber projections also. Tepper recommended buying Disney’s stock under $120 per share.

See Also: 2 Reasons Disney's Stock Will Prevail In 2022

Morgan Stanley analyst Benjamin Swinburne lowered the price target on Disney to $185 from $210 and kept an Overweight rating. Macquarie also reduced a price target to $185 from $195 and kept an Outperform rating.

Price Action: Disney shares dropped 0.9% to close at $149.10 on Tuesday, recording losses for the fourth straight session.

Netflix shares fell 1.1% to settle at $597.99 on Tuesday.

Related Link: Netflix Fires Up Disney, Amazon Rivalry By Cutting Prices In India; Analyst Cut Disney's Price Target