Loop Capital's Kourtney Gibson sees Walt Disney Co (NYSE:DIS) stock as a safe haven for the long haul with the potential for short-term upside.
What To Know: Disney shares have been beaten down alongside other streaming stocks ever since Netflix Inc (NASDAQ:NFLX) reported a decline in its subscriber base, the company's first such loss in more than 10 years.
Investors now await Disney's quarterly subscriber numbers, which the company will report after the market closes on May 11, but Gibson said investors may be overlooking the rest of the company's business.
"The market is focused so much on the growth opportunity with streaming with Disney ... they forget about something very, very critical, which is this is a diversified business with an incredible management team," Gibson said Monday on CNBC's "Fast Money Halftime Report."
Jim Cramer noted that he bought more Disney shares on the pullback. Gibson told CNBC that she did the same.
"You're not going to lose for the long-term in this name and as a matter of fact, even in the short term, I think we're going to see some very, very pleasant surprises," Gibson said.
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Some short-term catalysts that could help push the stock higher, including easing COVID-19 outbreaks in China and the realization that streaming is here to stay, she said.
"I'm not saying Netflix is never going to get back to $700 ... but I will tell you Disney will go to and through its most recent 52-week high," Gibson said.
DIS Price Action: Disney has traded between $108.30 and $187.57 over a 52-week period. It's making new 52-week lows on Monday.
The stock was down 1.85% at $108.23 at time of publication, according to Benzinga Pro.
Photo: Pexels from Pixabay.
