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Disney price target raised to $130 from $125 at Deutsche Bank
Deutsche Bank raised the firm's price target on Disney to $130 from $125 and keeps a Buy rating on the shares. The firm increased operating income estimates to reflect Parks, Sport and Studio, partially offset by lowered direct-to-consumer numbers. While the stock doesn't offer tremendous upside unless there is further multiple expansion, Disney can maintain its current price-to-earnings multiple and carry it forward to 2025 estimates as the year progresses on the back of strong earnings growth, the analyst tells investors in a research note. Deutsche thinks the company "has regained its stride" and the risk of negative earnings revisions for the remainder of the year is relatively low, with positive revisions having a higher probability