Walt Disney (NYSE:DIS) has had a disappointing run at the box office this year, and with fans’ enthusiasm running low, the company may be looking to old franchises to get back on track. Indeed, Disney’s CEO Bob Iger raised excitement at the company’s theme part in Hong Kong, where he told fans that a fourth installment of the popular animated movie Frozen is in the works, alongside a previously announced Frozen 3.
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“Frozen 3 is in the works, and there might be a Frozen 4 in the works too,” the CEO said in a statement. “But I don’t have much to say about those films right now. Jenn Lee, who created the original Frozen and Frozen 2, is hard at work with her team at Disney animation on not one but actually two stories.”
Frozen, which first hit big screens in 2013, has gone on to become one of the biggest animation franchises of all time. At present, Frozen 2 is the biggest animated movie ever, earning over $1.45 billion at the box office, while the original Frozen sits in third place with $1.27 billion.
What is a Good Price for Disney Stock?
With 19 Buys and six Holds, DIS commands a Moderate Buy consensus rating on TipRanks. The average Disney stock price target of $107.23 implies 13.6% upside potential from current levels. Meanwhile, DIS stock has gained 5.3% so far this year.
