The Walt Disney Co (NYSE:DIS) shares are trading higher Tuesday following positive analyst coverage from Rosenblatt.
Rosenblatt analyst Barton Crockett initiated coverage on Disney with a Buy rating and announced a $177 price target.
Crockett says Disney parks are well positioned in "what may be the strongest demand environment ever." He sees more catalysts ahead for Disney as international travel resumes and the company's cruise ships resume sailing.
Although the Rosenblatt analyst is skeptical about streaming in general, he acknowledges that Disney+ is relatively well positioned as an early mover in the space, backed by solid leadership, a global footprint and a distinct brand.
Disney is set to announce its fiscal second-quarter financial results after the market closes on May 11.
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DIS 52-Week Range: $126.82 - $190.33
According to data from Benzinga Pro, the stock was up 3.15% at $131.80 at time of publication.
Photo: 652234 from Pixabay.
