Disney shares rally on analyst optimism and revised estimates as Disney heads for its best calendar Q1 since the year 2000:
Disney stock’s explosive start to 2024 raged on Wednesday, as shares of the entertainment giant rallied thanks to an optimistic analyst note suggesting the stock still has room to run thanks to upside from its oft-maligned streaming business.
Disney's recent stock performance, notably a 1% rise to over $120 on Wednesday, marking its highest intraday price since August 18, 2022.
This contributes to a year-to-date return of 34%, potentially its best first-quarter return since 2000. UBS analysts upgraded Disney's share price target to $140, citing the potential profitability of its streaming operations as a key driver.
However, the upcoming shareholder meeting poses a risk, with activist investor Nelson Peltz and former CFO Jay Rasulo seeking board seats, potentially impacting Disney's strategic direction and stock performance.
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MonkeyGee : These analysts are Pimps. They were the same ones calling sell Disney at $80, and now they swing the other direction. remember what I say about how these analysts swing like ________ when the market changes. (what?) If you followed me, you would have been in at 80.