In a report released today, Barton Crockett from B.Riley FBR reiterated a Hold rating on Walt Disney (DIS), with a price target of $122. The company’s shares opened today at $118.20, close to its 52-week high of $120.20.
Crockett wrote:
“Disney (DIS – Neutral, $122 PT) had big upside in the September-ending F4Q18, mainly in its film studio, propelled by the “incredible” performance of Incredibles 2, which rang up the box office more like a superhero movie than an animated one. Still, the movie gods give, and they take away. Tough movie comps make for a difficult comparison, not just in the current December quarter, but for all of fiscal 2019. Disney will also be encumbered in F2019 by stepped-up investments in expanded sports rights for ESPN+; we now see an EPS dip for the year for Disney as a stand-alone, the basis on which our estimates are currently published. But Disney won’t be stand-alone much longer. The Fox deal is looming and will be a huge test, along with an F2020 that will feature the launch of the new Disney+ DTC OTT, and major new Star Wars attractions at Disney theme parks.”
According to TipRanks.com, Crockett is a 4-star analyst with an average return of 4.3% and a 54.6% success rate. Crockett covers the Services sector, focusing on stocks such as Liberty Media Corporation Series A Liberty SiriusXM Common Stock, Lions Gate Ent Corp Cl A, and Qurate Retail Group Inc.
Currently, the analyst consensus on Walt Disney is a Moderate Buy with an average price target of $120.67.
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Based on Walt Disney’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $15.2 billion and net profit of $2.92 billion. In comparison, last year the company earned revenue of $12.75 billion and had a net profit of $1.75 billion.
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