1 Wall Street Firm Raises Disney's Price Target Almost 25%: Here's Why It's Right.
Walt Disney (NYSE: DIS) shares have been on a roll. The stock is higher by 25% year to date. This week, analysts at Morgan Stanley said they still believe the stock is a buy and boosted the firm's price target on Disney.
The new target of $135 per share is a raise of 23% from the previous target and would represent a gain of 20% from Disney's recent stock price. The analysts highlighted several things that show the momentum in Disney shares should continue.
Disney has made several recent announcements showing a renewed focus on driving profitability. In its recent quarterly conference call for analysts, CEO Bob Iger stressed building the streaming segment into a profitable one, reinvigorating its lagging film studio offerings, and investing in its successful parks segment.
Source Fool.com
