Disney Stock Gets Downgraded By Longtime Bull On Eve Of Q2 Earnings Report
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deadline.comBy Dade Hayes Finance Editor Disney stock has gotten a downgrade from “buy” to “neutral” by Wall Street analyst Michael Nathanson, who had long been bullish on the media giant’s shares. “There are a number of risks” to the company from COVID-19, the MoffettNathanson partner wrote in a note to clients, “that could lead this unprecedented event to have a longer impact.” He also trimmed his 12-month price target to $112 from $120.
On Tuesday afternoon, Disney will report financial results for its fiscal second quarter, which ended March 31. Its stock began the week at $105.50, well off its 52-week high of $153.41 established last year.
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