Disney Stock Rises After Analyst Upgrade Citing Streaming Growth Potential
• Disney (DIS) stock rose 2% after analyst upgrade to Overweight citing better cash flow, earnings guidance, and other tailwinds • Barclays raised its price target to $135, seeing 15% upside for the stock, which is up 30% year-to-date • Analyst argued Disney's streaming business could break even earlier than 2024 guidance due to cost cuts and price hikes • Potential streaming margins of 25-30% could surprise investors, nearing linear TV margins • Other upside surprises ESPN streaming partners, post-proxy battle succession plan refocus