MickeyBlog.com was up all night posting the big (good) news about The Walt Disney Company’s upcoming upgrades to Disney+.
The media giant, which stomped right into the streaming world and doubled down on Disney+ is making waves on Wall Street.
After several firms upgraded Disney on Wednesday and Thursday, a whole lot more did Friday AM.
Disney Stock Hits Record High
CNN reported:
Shares of Disney (DIS) jumped 13% Friday to a new all-time high. The stock is now up more than 20% this year, an impressive feat given that the pandemic has wreaked havoc on Disney’s theme park business and forced its movie studios to delay big releases in theaters.
Investors are clearly betting that the streaming strength will offset any lingering weakness in other areas of the House of Mouse empire: Disney raised its forecast for subscriber growth and is upping prices for Disney+.
Wall Street analysts rushed to upgrade Disney following Thursday’s event. At least 13 analysts boosted their price targets on the stock Friday morning.
Lucasfilm president Kathleen Kennedy introduces upcoming Star Wars projects. Image: Disney/Screenshot.
Highs Thanks To Disney Plus
And the stock hit 175.72, up from its previous close of 154.69:
Today, Disney stock hit an all-time record high. Note the low, 79.07 during the first weeks of the pandemic. Image: Google.
“Citi analyst Jason Bazinet noted in a report Friday that Disney was making a “robust commitment” to new content, noting that the increased costs on programming were paying off as subscriber growth has continued to increase faster than forecast,” explained CNN. “The numbers prove Disney can go toe-to-toe with current streaming king Netflix (
NFLX), whose shares are up more than 50% year-to-date. In addition to its namesake movie studio and animated library, Disney also owns Pixar,
Marvel and Star Wars creator Lucasfilm.”
Disney said on Thursday during its investor day that it will release more than 100 movies and shows in the upcoming years, with 80% of those going directly to Disney+.
And keep it here on MickeyBlog.com for coverage of all of those shows and projects!
