Rosenblatt raised the firm’s price target on Disney (DIS) to $135 from $122 and keeps a Buy rating on the shares. The company’s “build up for growth,” explained by Disney’s CFO at a media conference last week, “looks do-able — especially given recent momentum,” the analyst tells investors in a research note. The firm says this warrants a more constructive valuation stance on the shares. A re-rating for Disney can be supported by rising confidence in the company’s portfolio durability and growth trajectory, and less concern about exposure to secular pressures on linear TV and competition in streaming, the analyst tells investors in a research note.
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