In a research report released on Friday, Brean Capital analyst Alan Gould reiterated a Hold rating on shares of Walt Disney (NYSE:DIS), after the entertainment giant released its fiscal fourth-quarter results, posting EPS and revenue of $1.10 and $13.1 billion, compared to consensus estimates of $1.16 and $13.5 billion, respectively.

Gould commented, “DIS shares have not been trading at their historical market premium due to the ESPN subscriber fears and long-term sports commitments, which could turn out to be an asset if ESPN subs are retained through skinny bundles or a direct-to-consumer offering. Due to its size and synergy, historically we find when DIS beats the Street, it tends to do so for a number of quarters, and conversely, when it misses, it also tends to also do so for a number of periods. DIS currently trades at a 2% discount to the market on our FY17 estimate, and we assume it will trade in the range of a 0-10% discount until ESPN’s subscriber growth trends are clarified.”

“While we like DIS longer term, we currently prefer TWX which is trading at a 19% discount to the value of the AT&T offer and below our fundamental target price of the low 90’s,” the analyst concludes.

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Alan Gould has a yearly average return of 6.9% and a 81% success rate. Gould has a 25% average return when recommending DIS, and is ranked #685 out of 4200 analysts.

Out of the 31 analysts polled by TipRanks, 13 rate Walt Disney stock a Buy, 17 rate the stock a Hold and 1 recommends Sell. With a return potential of 11.2%, the stock’s consensus target price stands at $107.93.