- Morgan Stanley analyst Benjamin Swinburne has an Overweight rating and a $170 price target (28.3% upside) on The Walt Disney Co (NYSE:DIS).
- Swinburne saw Disney implementing Technology and operational tools in its parks that should drive structurally higher growth and incremental margins, and he raised his Parks estimates accordingly.
- Swinburne, who saw a multi-year period of robust Parks growth helping create downside support for shares, believes that Disney's streaming success is "not priced in at current levels," forecasts 30% adjusted EPS compound annual growth from FY22 through FY24.
- Disney "maybe in year one of a historically strong period of growth at its Parks business," with drivers including Pent-up consumer demand and spending levels, Technology and operational tools, New assets coming online from three new cruise ships to a re-imagined Epcot in Florida.
- Multiple analysts, including Goldman Sachs, Wells Fargo, BofA, and Loop Capital, are bullish on Disney Parks.
- Price Action: DIS shares traded lower by 1.55% at $130.52 in the market session on the last check Thursday.
