Walt Disney (NYSE:DIS) roped in two of its former executives as advisors to its CEO, Bob Iger, the digital media company Puck reported. Per the report, Kevin Mayer and Tom Staggs are back at Disney and will be advising Iger, ESPN chief James Pitaro, and others on the future of its television businesses, including the ESPN sports network.
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The media and entertainment giant is facing headwinds due to several factors, including a reduction in linear TV advertising revenues and inflationary cost pressure. Further, the competitive issues in its streaming business, the decline in the domestic park’s revenue, and higher costs are taking a toll on its financials. In addition, the company faces uncertainty related to the ongoing Hollywood strikes.
Nonetheless, Disney’s board unanimously extended CEO Robert Iger’s contract by two years until the end of 2026. This shows the board’s confidence in Iger’s ability to navigate the company through the current difficulties and bring stability to Disney’s overall performance.
Is Disney Stock a Buy or a Hold?
Given the ongoing challenges, Wall Street analysts are cautiously optimistic about DIS stock. It has received 13 Buy, six Hold, and two Sell recommendations for a Moderate Buy consensus rating. Analysts’ average price target of $115.72 implies 34.36% upside potential from current levels.
