Disney Stock Hits 6-Month High On Streaming Progress, Upbeat Financial Guidance And Wall Street Analysts’ Cheers

deadline.com:

The Mouse is regaining its mojo on Wall Street. Disney stock, which hit a 2024 bottom of $83.91 over the summer, has roared back to life and is seeing a second straight day of significant gains after an upbeat earnings report Thursday morning.

Shares were up nearly 4% as of mid-day Friday, reaching a 6-month high north of $113. They have gained 24% in 2024 to date. While there are some reasons for concern (the ongoing meltdown of linear TV assets, the ramp-up in sports rights costs, the challenge of picking a suitable successor to CEO Bob Iger), the positives are manifold.

The streaming operation, after years of hefty losses, is resoundingly profitable, with a target of $1 billion in profit in fiscal 2025.

Two billion-dollar-grossing movies, Deadpool & Wolverine and Inside Out 2, have punctuated the film studio’s rebound, with animation in particular back in action as Moana 2 looms as a holiday juggernaut.