Loop Capital raised the firm’s price target on Disney (DIS) to $130 from $125 and keeps a Buy rating on the shares. The company will pay Comcast (CMCSA) another $0.4B to finalize its purchase of Hulu, which is “well less” than the potential $5B maximum liability, and the outcome provides clarity that allows Disney to fully integrate Hulu into both Disney+ and the upcoming ESPN streaming service, the analyst tells investors in a research note. Loop adds that its higher price target reflects higher multiples and a more stable environment.
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