Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Entertainment https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Disney shares rise 10% as new streaming push requires a pair of upgrades

Disney shares rise 10% as new streaming push requires a pair of upgrades

DIS at Walt Disney Co.
plans to become more aggressive with the flow as the pandemic hits other areas of the media conglomerate that helped win stock upgrades from Guggenheim analyst Michael Morris following the company’s earnings report Tuesday afternoon. The stock rose more than 10% in trading on Wednesday. Morris raised his Disney stock rating to buy from neutral and raised his price target to $ 140 from $ 123 after Disney said it would launch a new overseas streaming service under the Star brand and release it live. Mulan “live as a direct to -consumption on September 4 gave violations of the traditional theatrical model due to COVID-1

9. “Using Disney’s assets to speed up the DTC is likely to be accepted by investors,” Morris said in a note to clients Wednesday morning. “The bottom line, when we focus on Investors Day (in the coming months), we expect the burden of proving to be why Disney won’t be a winner in secular streams, rather than justifying the company’s ability to meet investor expectations.” According to him, in the language of the company, he shows hints that may have signaled a “broader desire to seek additional opportunities” in the downstream flow, he said. Credit Suisse analyst Douglas Mitchelson also upgraded the stock to exceed neutral. Overall, with new CEO Bob Chapek showing a “innovative and bold” further turn to streaming, we expect Disney shares to be even more aggressively positioned as a flowing history of growth (where investors have limited funds). for investment) and a possible COVID recovery game, “he wrote. Disney shares have gained 27% so far this year as the S&P 500 SPX
has grown by 16%.

Source link