YF Premium bullish on Disney as Argus Research raises PT to $200
Yahoo Finance’s Alexis Christoforous and Jared Blikre discuss Argus Reseach raising the price target on Disney.
Video Transcript
ALEXIS CHRISTOFOROUS: All right, speaking of raising your price target, I know that Yahoo Finance Premium is bullish on Disney today. There's a price target raise there by a street analyst. What can you tell us?
JARED BLIKRE: That's right. This is Argus Research and part of our Yahoo Finance Premium package here. They're raising their price target to $200. And we can see on a chart here that let's go to a six-month chart. You can really see the lift-off that we've gotten since November, up 45% over that time period.
And here is Argus Research's reasoning for that. And just reading this a little bit here, here's their reasoning. Disney has been hurt by the pandemic and continues to spend heavily on its direct to consumer streaming video business. However, direct to consumer and Disney Plus have rapidly become central to the company's strategy. The success of Disney Plus is nothing short of remarkable, even considering the tailwind of stay-at-home consumer behavior. Alexis.
ALEXIS CHRISTOFOROUS: It really has been a remarkable run-up in the number of subscribers they've been able to get in a short amount of time.
