Barclays has upgraded Disney's stock ($DIS) to overweight from equal weight, raising the target price to $135 from $95. This decision reflects Barclays' positive outlook on Disney's future, citing a narrative reset and the potential for positive estimate revisions as key factors. Barclays notes, "The recent narrative reset is likely to be followed by positive estimate revisions, which is still early in the cycle and should further support valuation." The upgrade comes amid a broader context of Disney facing a proxy fight from a billionaire activist investor seeking more influence on the company's board, particularly advocating for a more aggressive stance on several fronts, including ESPN. This boardroom battle is seen as a pivotal moment for Disney, with its stock now trading above the average analyst price target as the company's annual shareholder meeting approaches.
LISTEN NOW: Disney’s boardroom battle is nearing a head as investors look to the company’s annual shareholder meeting next week. Listen to the @CNBCFastMoney podcast here: https://t.co/2KdGymzp3L https://t.co/fsLNXdOA5b
$DIS at a crossroads as shareholders fight over control of the boardroom. The stock is now above the average analyst price target. Where does it go from here as the Magic Kingdom's shake-up continues? @TimSeymour, @GuyAdami, @Bonawyn, and @RiskReversal debate: https://t.co/AFyH4JzZM4
A billionaire Disney activist investor has launched a proxy fight for more influence on the company's board, insisting $DIS needs to be more aggressive on several fronts—including ESPN. The battle for the future of Disney could have big effects on the Worldwide Leader in Sports.
Disney stock upgraded by Barclays as turnaround plan takes shape https://t.co/IPU5fE81KK by @allie_canal
Disney Board Drama Heats Up. The Stock Gets an Upgrade. https://t.co/YTxaTjlH9M
Barclays upgrades Walt Disney $DIS, sees positive estimate revisions ahead https://t.co/cxjizvELr8 https://t.co/hhGRyLIFvL
$DIS Barclays upgrades Disney to overweight from equal weight Barclays said in its upgrade of Disney that it sees a “narrative reset.”
$DIS: Barclays Upgrades to Overweight from Equalweight - PT $135 (from $95) "The recent narrative reset is likely to be followed by positive estimate revisions, which is still early in the cycle and should further support valuation."
$DIS | Barclays Raises Disney's Target Price To $135 From $95