Disney reinstated with an Overweight at JPMorgan

JPMorgan analyst Philip Cusick reinstated coverage of Disney with an unchanged Overweight rating with an unchanged price target of $135 following a period of restriction. The company reported strong fiscal Q1 results, driven by better Parks profitability and lower direct-to-consumer losses, the analyst tells investors in a research note. The firm is "encouraged" by newly appointed CEO Bob Iger’s transformation program.