Media giant Disney (NYSE:DIS) has been fighting hard to keep its place amid a rising tide of concerns. Perhaps the biggest of these is that most of Disney’s business targets discretionary income, something that’s in short supply for many right now. But Disney notched up fractionally in Friday afternoon’s trading, buoyed by new expansion plans for fan events and its parks.
Disney offered up word about its plans for its D23 event, and those plans will be substantially expanded from previous years. In fact, reports suggested that the planned list of events is “…easily twice as large…as it has been in recent years.” The event will hit the Anaheim Convention Center with staggering force and bring out just about every part of Disney’s biggest properties.
The event includes a platform specifically for Disney+, as well as an “Avatar” pavilion, a Marvel TVA walkthrough, photo ops with the various actors of several different shows, and an area devoted to Lucasfilm special effects. Further planned is an exhibition of upcoming content in all three content fields: theatrical, television, and streaming. Just to round it out, on Sunday at 5pm, there will be a special event adding several new names to the roster of “Disney Legends.”
And Then the Park Gets Involved
Reports noted that the D23 event will also include something called “Horizons: Disney Experiences Showcase.” This attraction will detail new additions coming specifically to the parks and will feature the head of Disney Parks, Josh D’Amaro, as he offers a look at what will be coming soon to one of the most expensive vacation destinations on the planet.
Reports suggest an expansion to the Magic Kingdom, as well as Animal Kingdom. The Tropical Americas expansion will reportedly feature an Indiana Jones-themed retooling, though hopefully, you won’t be dodging spears and arrows in a bid to get back to your plane. There will even be several retrospective events telling interested parties about the history of Disney events at the parks, from the nighttime shows to costumes used in the parks.
Is Disney a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Strong Buy consensus rating on DIS stock based on 21 Buys and five Holds assigned in the past three months, as indicated by the graphic below. After an 8.62% rally in its share price over the past year, the average DIS price target of $128.04 per share implies 31.27% upside potential.
