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By Sam Boughedda
Investing.com — Walt Disney Firm (NYSE:) fell 3.5% Friday after analysts at Guggenheim downgraded the inventory primarily based on the tempo of its revenue development.
Analyst Michael Morris downgraded Walt Disney shares to impartial from purchase, setting a value goal of $165, down from $205.
Morris defined the downgrade resulted from their up to date view of the “tempo of revenue development on the firm’s direct-to-consumer and parks companies, which is now under consensus by means of fiscal 2024.”
The analyst additionally cited Disney’s digital development challenges, parks pattern volatility and price inflation as additional causes for the decrease ranking.
“We do see optimistic enterprise indicators, together with forward of consensus F1Q22 Disney+ subscriber additions (our 10mm versus consensus 6.8mm) bolstered by Hulu + Stay bundling. Nonetheless, broader enterprise stress has us revisit our goal 12-month valuation, now at $165 as detailed inside,” Morris stated.
Disney inventory is down greater than 14% within the final three months.
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