Disney Stock Has 20% Upside, According to 1 Wall Street Analyst
Walt Disney (NYSE: DIS) stock -- like most stocks -- got a bit banged up on Wednesday after higher-than-expected inflation data dashed investors' hopes for a series of Federal Reserve rate cuts in 2024. But in contrast to many other stocks, Disney investors also got some good news.
Inflation or no inflation, and rate cuts or no interest rate cuts ... Disney stock is going up nearly 20% (according to Argus Research analyst Joseph Bonner), and will hit $140 a share within a year.
Disney is an entertainment conglomerate, boasting multiple profitable businesses -- most of which contribute to Bonner's buy thesis. True, the TV business is in secular decline, and "bleeding subscribers" as cord-cutting continues. But Disney parks and cruise lines, says the analyst, have "resumed full operations" and "are posting strong results." And Disney's streaming TV business is the only real competitor to .
Source Fool.com
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