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According to this report, at least one Wall Street analyst still thinks that the Walt Disney Company is a good ‘horse’ to bet on in the stock market — even though morale among Disney employees is low, Disney Resort and Disney Park Guests are complaining extensively about their experiences on Disney vacations, and Disney’s CEO Bob Iger has just announced some big shakeups for the company!
When Disney CEO Bob Iger (who had actually retired from his position, while still staying on as a highly-paid consultant, but then returned recently to oust the now-former CEO Bob Chapek) announced plans to cut an estimated $7,000 jobs from the Walt Disney Company, Disney’s stock actually rose.
Disney’s stock saw a rise after Disney CEO Bob Iger announced the new plans for Disney (and the layoffs) in February 2023.
We had seen a lot of ups and downs when it comes to Disney stock in recent months, with some of the ups and downs being very dramatic ones, but Wall Street analyst Philip Cusick apparently thinks that Disney will continue to be a good investment regardless of these turbulent times!
According to the report from MarketWatch, “JPMorgan’s Philip Cusick is feeling ‘cautious’ about the media industry, but he likes Walt Disney Co.’s potential.”
Cusick apparently “picked his coverage of Disney’s DIS, -0.75% stock back up on Monday with an overweight rating and $135 price target, dubbing it his ‘favorite name’ among media stocks and writing about his optimistic view of the company’s transformation aims.”
According to Cusick, Disney has a “strong asset mix” (which many Disney fans could testify to, since Disney has so many income streams) and Wall Street is also actually anticipating that there will be “a rapid decline in streaming losses in the next year.”
Since streaming services have been a big deal for Disney and other big-name companies like Amazon, Netflix, Apple, Hulu, and possibly even Walmart, this is big news!
The Disney stock price over time in November of 2022. Credit: Google
Cusick did indirectly reference the plans from Disney CEO Bob Iger about the extensive layoffs within the Walt Disney Company as well, saying that things will be looking up for Disney stock “as the company pares away what had become during COVID a bloated cost structure”.
What are your thoughts on the new directions that the Walt Disney Company — and the Disney Resorts and Disney Parks at Walt Disney World Resort and Disneyland Resort — are headed in? Let us know on Facebook, Instagram, and Twitter!
