Disney price target lowered to $130 from $145 at Citi

Citi analyst Jason Bazinet lowered the firm’s price target on Disney to $130 from $145 and keeps a Buy rating on the shares. The firm updated its model post the fiscal Q1 results. Disney introduced a $5.5B cost savings target, outlined a new corporate structure, and pointed to rationalizing its streaming business to put it on a path towards sustainable, profitable growth, the analyst tells investors in a research note.