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Disney Stock Returns To February Levels As Streaming Prompts Analyst Upgrade
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deadline.comDade Hayes Finance EditorOn a downbeat day for most stocks, Disney shares have posted solid gains after a resoundingly positive verdict on the company’s streaming progress by an analyst at a major Wall Street firm.The stock was up 3% in mid-day trading, at around $136 a share, on track for its highest closing price since February 21.
Shares have slipped about 6% in 2020 to date, but have recovered over the summer after a steep plunge in February and March as investors processed the extent of the company’s vulnerability due to COVID-19.
The Nasdaq, S&P 500 and Dow Jones Industrial Average all lost ground Tuesday, putting Disney’s upswing in starker relief. “Disney is succeeding in the land-grab phase of direct-to-consumer,” Deutsche Bank.
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