MoffettNathanson analyst Michael Nathanson in a Thursday report maintained his "neutral" rating on the stock of Walt Disney, but boosted his stock price target by $18, citing the Hollywood giant's "strong" position in streaming.
He is also bullish on the Disney+ streaming service's global subscriber outlook. Nathanson took his stock price target to $136. "While we continue to expect economic pressures from COVID-19 to pressure earnings, we also acknowledge the strong direct-to-consumer position Disney holds," he wrote in the report entitled "Disney: A Lifeboat, But At What Price?" He also noted that "we are decreasing our estimates further to incorporate all the latest headwinds in the 'core' business.
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