Disney price target raised to $130 from $120 at Loop Capital

Loop Capital analyst Alan Gould raised the firm’s price target on Disney to $130 from $120 and keeps a Buy rating on the shares after its Q1 results. The analyst is citing the company’s $5.5 billion cost savings, reorganization, elimination of Disney+ subscriber targets, and reaffirmation of the Disney+ profitability by the end of FY24 in raising the firm’s long-term estimates, though Loop Capital also cuts its FY23 EPS view by 43c to $4.19 and its FY24 view by 11c to $5.90.