Redburn Atlantic analyst Hamilton Faber upgraded Disney (DIS) to Buy from Neutral with a price target of $147, up from $100. Disney is “finally” at a point where streaming profit growth will more than offset linear TV declines after years of cord-cutting pressures, which is “an important moment” that signals the end of “a structural headwind that has curtailed Disney share price appreciation to just 20% over the past ten years,” the analyst tells investors. Management’s decision to issue three-year guidance “looks well founded” with a renaissance in content performance and streaming on a more solid footing, the analyst added.
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