UPDATED with closing stock price. A number of Wall Street analysts have increased their price targets for Disney’s stock after the media giant reported better-than-expected quarterly earnings and outlined its streaming-focused future. Shares closed Friday at $138.41, up more than 2% on twice the normal trading volume. While shares had poked above $140 on Monday and Tuesday before retreating, Friday’s trade returned shares to where they were trading in February, a remarkable comeback. The buoyancy of the stock continues to reflect widespread optimism about Disney despite the daunting reality of COVID-19, which continues to hamper theme parks, moviegoing and live sports. Coronavirus infection rates set daily records in the U.S. and Europe and the company noted Disneyland in Anaheim won’t be able to reopen in 2020. That update came as Disney reported fiscal fourth-quarter results that bettered analysts’ expectations. While the company lost money in the quarter, it also said Disney+ has attracted 73.7 million global subscribers one year after it launched, already comfortably within the company’s internal five-year forecast. Related Story Disney Stock Explodes To New High, Rising 14% After Investor Day Bonanza – Update Michael Morris of Guggenheim implemented one of the biggest step-ups, lifting his 12-month price… Read full this story
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Disney Stock Gets Wall Street Love As Analysts Lift Price Targets On Streaming Upside – Update have 311 words, post on deadline.com at November 13, 2020. This is cached page on CuBird. If you want remove this page, please contact us.