Morgan Stanley Raises Its Price Target on Disney Stock
Bob Iger and the Walt Disney Board of Directors got a shot of good news this morning when Morgan Stanley raised its price target from $110 to $135 and maintained its Overweight rating.
The new price point would mark a 21% improvement from Disney’s last closure.
Photo: Disney
Morgan Stanley says that Disney’s recent results, management actions, and the economic environment have given the investment firm confidence in the company. Specifically, Morgan Stanley pointed to Disney’s improvements in streaming and its continued success in its Parks business.
(Photo Illustration by Mateusz Slodkowski/SOPA Images/LightRocket via Getty Images)
“By the end of FY24, the two most impactful businesses to DIS shares should be inflecting — with streaming turning profitable and Parks growth accelerating,” said Morgan Stanley.
Disney Continues to Fight Off Blackwells and Peltz
Based on the increased price target, Disney’s stock was up 1% on Monday morning, reaching a high of $113.63.
Photo by Chip Somodevilla/Getty Images
While the confidence of Morgan Stanley will likely not dissuade Nelson Peltz or Blackwells from continuing their proxy battle against Disney, the development is surely welcomed by Bob Iger.
With the Disney board fighting a battle on two fronts, the company will use all the support it can get.
Photo: restorethemagic.com
Buoyed by strong earnings and positive outlooks from Wall Street, Iget will look to vanquish the activist investors and solidify his control over the Disney board. The battle will come to a head on April 3, when The Walt Disney Company holds its annual meeting.
Photo: Dallas Express
As always, continue to check back with MickeyBlog. We will update you on all the news coming out of The Walt Disney Company as their annual meeting nears.
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