Morgan Stanley analyst Benjamin Swinburne lowered the price target on The Walt Disney Co. to $170 from $185 and reiterated an Overweight rating on the shares. The price target implies an upside of 19.34 percent.
Swinburne lowered his long-term direct-to-consumer margin expectations following the reset of his Netflix Inc. expectations.
Swinburne views Disney+ as both “strategically attractive and off to a strong start.”
Swinburne is increasingly focused on long-term earnings power and earnings growth expectations after DTC turns profitable, which he forecasts will happen in FY24.
By Anusuya Lahiri
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