UBS analyst John Hodulik upgraded his rating on the stock of the Walt Disney Co. from "neutral" to "buy" in a Friday report, lauding the Hollywood giant's streaming success and arguing its theme parks would benefit from the reopening of the economy after the coronavirus pandemic.
In his report entitled "Direct-to-consumer leader and reopening beneficiary," he also boosted his stock price target from $155 to $200.
Hodulik predicted "continued outperformance" in Disney's streaming business, writing:"Disney is positioned to achieve scale similar to industry leader Netflix with 340 million-plus global subs by '24 (versus UBS analyst Eric Sheridan's forecast of 316 million at Netflix), while its premium intellectual property creates pricing.
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