Chief executive officer as well as also chairman of The Walt Disney Company Bob Iger walks on the floor of the fresh York Stock Exchange (NYSE) before ringing the opening bell, November 27, 2017 in fresh York City.
Barclays bumped up its rating on Disney shares to overweight by equal weight on Friday, pointing to the company’s shift to provide an over-the-top media service as a fresh spark for growth.
“We believe the company has the key mix of assets to be successful as well as also the opportunity by This particular pivot could be substantial,” Barclays analyst Kannan Venkateshwar said in a note. “We believe Disney’s Investor Day could prove to be a catalyst to frame the scale of the opportunity as well as also help the company build a credible terminal value ‘story’ around the stock.”
Disney’s investor day will be likely to be early next year as well as also “should not only give investors a sense of the scale of Disney’s ambitions however also help remove a persistent speculation about the scale of earnings downside by fresh businesses,” Venkateshwar said.
Barclays raised its cost target on shares of Disney to $130 a share by $105 a share. Disney stock rose 1.5 percent in premarket trading by Thursday’s close of $116.18 a share.
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