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Disney Stock Is Having a Bad Week, Again

TheMotleyFool 
0 0 26.07.23
Disney Stock Is Having a Bad Week, Again: https://g.foolcdn.com/editorial/images/741228/disalice.jpg
 

This hasn't been a good week for Walt Disney (NYSE: DIS) investors. The rain started to trickle down on Monday, when Evercore ISI (NYSE: EVR) slashed its price target from $130 to $110. The firm is lowering its near-term estimates, concerned about near-term weakness in linear-TV advertising revenue.

With production strikes finding media networks scrambling for fall season content, it's easy to see why marketers might be holding back on that front. However, at least Evercore stuck to its bullish outperform rating. The new price goal represents 26% of upside from where Disney shares were at the end of last week.

The light raindrops turned into a deluge on Tuesday after Hamilton Faber at Atlantic Equities downgraded the House of Mouse from neutral to underweight. He is also ringing a warning bell when it comes to linear-TV advertising, a pressure point that's trimming his operating income forecast by $1 billion for the media giant come fiscal 2026.

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Source Fool.com

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