Lightshed Partners analyst Richard Greenfield on Tuesday downgraded Walt Disney's stock as he argued there's too little future earnings visibility to measure the COVID-19 impact on the studio's theme parks, theatrical releases and other out-of-home businesses. "Disney is built on shared group experiences.
Until there is global comfort health-wise with that behavior again, Disney’s earnings are fundamentally impaired," Greenfield wrote in a May 5 report.
He added Disney's share price is overvalued as he downgraded the studio's stock to "sell," with an $85 target. Disney is set to release its latest financial results after the market close today.
Read more on hollywoodreporter.com
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