The Walt Disney Co. (NYSE:DIS) stock has seen a downgrade from Imperial Capital “arguing that with the shares trading near a record valuation, the media giant may have run ahead of itself.”
Disney stock has had a great year. The shares have gained nearly 30%, hitting a 52-wk high of $143.51 and low of $100.35. Disney stock closed Wednesday at 140.98, +1.68, or 1.24%.
Disney has been on a financial winning streak with a record-breaking new installment in the “Avengers” franchise, strong robust earnings, and new “Star Wars” theme-park attractions.
Disney is preparing to launch its own streaming service called Disney+ on 12 November
Several analysts are calling its coming streaming service, Disney+, a serious threat to Netflix (NFLX) and other media firms, giving it an edge in the rapidly changing world of broadcast television.
The Imperial Capital analyst earlier this week cut his rating on Disney to In-Line from Outperform, as the stock approaches his 147 price target, which he chose not to change, he says many of the factors that had originally prompted him to “take a bullish stance on the stock have already played out, or are fading.”
In April, Disney priced its highly anticipated Disney+ below Netflix in an aggressive move to challenge the dominant streaming service and entice families to buy yet another monthly subscription.
Last month, Disney said said it will take full control of the Hulu service in a deal with Comcast Corp., as it vies for a bigger piece of the global video streaming market dominated by companies such as Netflix Inc..
Comcast’s departure from the Hulu board will let Disney prepare unencumbered to expand the scope and reach of Hulu in the domestic and international markets to battle the likes of Netflix, Amazon.com Inc and Apple Inc.
HeffX-LTN’s overall technical outlook for DIS is Bullish to Very Bullish in here.
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