"All I Want for Christmas Is an Updated Model." That was the title of Wells Fargo analyst Steven Cahall's Wednesday report, in which he boosted his stock price target for the Walt Disney Co.
from $182 to $201. Disney's stock on Tuesday closed at $170.45, giving the company a market capitalization of $308.6 billion.
It has traded as high as $179.45 over the past 12 months. Maintaining his "overweight" rating on the shares, Cahall said he was updating his financial model for the Hollywood giant, led by CEO Bob Chapek, after its recent investor day, where the company raised its streaming subscriber forecast. "We revise our estimates for the direct-to-consumer ramp," he said.
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