Walt Disney Co (DIS)

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Disney Shares Up Even as J.P. Morgan Cuts Estimate on Fox Integration Issues
By: TheStreet | October 9, 2019

J.P. Morgan's Alexia Quadrani trimmed her estimates for Q4 and fiscal 2020. She affirmed the stock overweight.

Disney (DIS - Get Report) shares are rising even as a J.P. Morgan analyst cut her earnings estimate on the entertainment company due to issues with the integration of the Fox assets that it acquired this year.

Analyst Alexia Quadrani lowered her fourth-quarter earnings estimate to 95 cents a share from $1.05 and her fiscal 2020 estimate to $5.50 from $6.30.

She affirmed her overweight rating on the stock. And she set a December 2020 price target of $150, which is the same as the firm's December 2019 price target.

The shares were rising 0.6% to $129.17 premarket.

Disney purchased numerous Fox assets for $71 billion, making the Burbank, Calif., company the largest U.S. media group.

Disney is also planning to expand its direct-to-consumer offering when it launches Disney+ in November. Disney joins numerous other companies offering subscription services in a war with Netflix (NFLX - Get Report) for streaming customers.

This week, the company said it would offer a limited-time three-year discounted subscription that comes out to about $4 per month.

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