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Disney Stock Price Target Boosted On Streaming Success

Walt Disney Co (NYSE:DIS)

Disney (NYSE: DIS) stock price notched all-time high after experiencing higher than expected growth in streaming subscribers. The market analysts have raised DIS share price targets, as they are praising the success of Disney streaming services.

The potential success of Frozen II is adding to investor’s sentiments. Frozen II from Disney is likely to hit $110M-$120M opening weekend, higher compared to the earlier forecast for $100M.

Moreover, the latest film could take Disney above the $3B domestic box-office level for the third time in history. Disney stock price is currently trading slightly below from all-time high that it had hit a few days ago.

DIS The Walt Disney Company daily Stock Chart

Bernstein Raised Disney Stock Price Target

Bernstein has boosted the DIS share price target to $137 amid confidence in streaming service. Bernstein analyst says the higher than expected growth on the first day is astounding. Analyst Todd Juenger says “Hitting 10M subscribers in one day is “astounding, no matter how many of them were promotional.”

In addition, the entertainment company expects to reach 90M subscribers in the first five years. Meanwhile, it has already achieved 10 million subscribers on the first day of launch.

JP Morgan has lifted the price target to $160, citing strong financial growth in the coming quarters. Rosenblatt raised the share price target to $175 amid a new streaming service.

Strong Financial Performance Supports Sentiments

DIS has been generating robust growth in financial numbers. Its fourth-quarter revenue of $19 billion increased by 33% from the previous year period. The company’s strategy of aggressively investing in growth opportunities is working. It has recently made several small and big acquisitions to expand the revenue base.

Robert A. Iger, Chairman, and Chief Executive Officer said, “We’ve spent the last few years completely transforming The Walt Disney Company to focus the resources and immense creativity across the entire company on delivering an extraordinary direct-to-consumer experience.”

Overall, the entertainment company is expecting substantial growth in revenue and earnings in fiscal 2020. DIS stock price is also likely to receive support from streaming services, acquisitions and improving financial numbers.

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Based in Saudi Arabia, Siraj has a strong understanding of and passion for accounting and finance. He has worked for international clients for many years on several projects related to the stock market, equity research and other business, accounting and finance related projects. Siraj is a published financial analyst on the world's leading websites including SeekingAlpha, TheStreet, MSN, and others.