Google’s YouTube Renews Distribution of Disney Channels

Alphabet (NASDAQ: GOOGL) company revealed that it has reached an agreement with Walt Disney Co (NYSE: DIS) to restore access to Disney channels on Youtube, according to CNBC.

In a tweet, YouTube said, “we’ve reached a deal with Disney and have already started to restore access to channels like ESPN and FX.”

Details

Last week, YouTube had stated that it would renew the agreement with Disney only if the latter would slash the monthly price for YouTube TV to $49.99 from $64.99.

However, on December 19, YouTube mentioned that the monthly price would be $64.99. Though, YouTube added that all affected users will receive a one-time discount of $15. Further terms of the deal have been kept under wraps.

Analyst Recommendations

On December 15, Societe Generale analyst Christophe Cherblanc raised the price target on Alphabet to $3,730 (31.6% upside potential) from $3,260 and reiterated a Buy rating on the stock.

Stock Rating

Consensus among analysts is a Strong Buy, based on 26 Buys and 2 Holds. The average Alphabet price target of $3,368.75 implies 18.85% upside potential to current levels.

Price Target for Disney

Overall, the stock has a Strong Buy consensus rating based on 18 Buys and 6 Holds. The Disney Stock Forecast of $199.23 implies 33.9% upside potential. Shares have lost 16.3% year-to-date

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