Rosenblatt raised the firm’s price target on Disney (DIS) to $104 from $102 and keeps a Buy rating on the shares after updating the firm’s models for Disney and Charter (CHTR) following news Monday of an end to the companies’ contentious carriage impasse. The settlement, as the firm expected, “averts imminent fears of pay TV distribution armageddon,” says the analyst, who also pushes back on Comcast’s (CMCSA) arguments for a big premium from Disney for its Hulu stake.
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Read More on DIS:
- Charter’s Spectrum TV Plus customers to get ESPN+ for free, Bloomberg reports
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- Disney, Charter reach agreement to end blackout, WSJ reports