Disney Stock Hits 52-Week High on Upbeat Growth Outlook and Dividend Hike

Disney's stock recently hit 52-week highs after an upgrade from Barclays based on potential for positive earnings revisions and strong cost-cutting initiatives.

Barclays raised its price target for Disney to $135, seeing 13% upside, with the stock already surpassing its Zacks average price target.

Disney is seeing positive EPS estimate revisions for 2024 and 2025, with bottom line projected to expand 21% this year and 19% in 2025.

Valuation is higher than industry average but below historical levels, while reinstated dividend is 50% above previous post-pandemic level.

Although the rally has been impressive, longer-term investors may see better buying opportunities ahead even as Disney lands a Zacks Rank #3 (Hold).