Disney (NYSE:DIS) has made a lot of advances in video streaming, and thus, between that and its linear television channels, it’s a force in the advertising market. To get the most out of that force, it’s joined up with a couple of major advertising tech providers, Google (NASDAQ:GOOG) (NASDAQ:GOOGL) and The Trade Desk (NASDAQ:TTD). Investors, meanwhile, are reasonably okay with this and sent Disney shares up fractionally in Wednesday afternoon’s trading.
The combined efforts of all three organizations will yield some new updates to the Disney Real-Time Ad Exchange (DRAX) and, ultimately, create the DRAX Direct system. DRAX Direct will incorporate OpenPath from The Trade Desk and Google Display & Video 360 buying platforms, which should ultimately make for a smoother and more user-friendly operation.
Moreover, with Disney and Hulu about to combine into a single interface, a move to make ad buying a little easier on customers should help improve buying rates on the various Disney platforms.
Disney’s Board Receives Support
Meanwhile, Disney’s proxy battle is still up and running, with no less than filmmaker George Lucas coming out in support of the current Disney board. Lucas declared that he has “…full faith and confidence in the power of Disney and Bob’s track record of driving long-term value” and has voted his shares for the current board accordingly.
What Is the Future Price of Disney Stock?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on DIS stock based on 18 Buys, four Holds, and one Sell assigned in the past three months, as indicated by the graphic below. After a 19.24% rally in its share price over the past year, the average DIS price target of $119 per share implies 3.12% upside potential.
