Last year was rough for Walt Disney (NYSE: DIS) investors. Shares of the media giant plummeted 46% in 2022. Can the House of Mouse bounce back in 2023?
The first major analyst move on Disney of the year may not seem very comforting at first glance. Tim Nollen at Macquarie is lowering the price target on the stock, from $120 to $110. The near-term goal keeps moving in the wrong direction, but it bears pointing out that the shares have closed in the double digits for the past eight weeks. The new target is still 24% higher than where Disney stock closed on Tuesday. Nollen continues to tag Disney with a bullish outperform rating.
Image source: Disney.
Source Fool.com