Analyst Steven Cahall has made an interesting prediction regarding Disney’s (NYSE: DIS) ESPN. He believes that Disney will begin to spin off ESPN and ABC in 2023.
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Nothing has been decided from Disney’s end, and this is only analyst speculation at the moment. Nevertheless, some investors are in favor of this idea as they look for any possible developments that could turn the share price around. Indeed, investor Dan Loeb sent a letter urging a spin-off earlier this year.
Overall, Wall Street analysts have a consensus price target of $120.76 on DIS stock, implying 38.77% upside potential, as indicated by the graphic above.