- Barclays analyst Kannan Venkateshwar downgraded The Walt Disney Co (NYSE:DIS) to Equal Weight from Overweight with a price target of $175, down from $210, implying priced at the current level.
- The growth of Disney+ has slowed significantly despite the launch of new franchise titles and Star+, Venkateshwar notes.
- As such, the analyst believes Disney faces a “tough” task to get to its long-term streaming subscription guidance. When assuming peak pre-streaming price-to-earnings multiples for Disney on present 2024 consensus earnings estimates, the stock has significant downside risk from current levels, Venkateshwar says.
- Price Action: DIS shares traded lower by 2.21% at $172.50 in the premarket session on the last check Monday.
Barclays Considers Disney Fair Priced, Downgrades To Equal Weight
Barclays analyst Kannan Venkateshwar downgraded The Walt Disney Co (NYSE:DIS) to Equal Weight from Overweight with a price target of $175, down from $210, implying…
