With its tussle with activist investor Nelson Peltz finally in the rearview mirror, Disney’s (NYSE:DIS) tale is gradually moving towards happier times. The entertainment giant has signed a deal to expand the Walt Disney World resort near Orlando over a 15-year period. A slew of promising box office titles is another happy twist in the tale for Disney.
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Disney’s New Florida Deal
Disney is one of the largest employers in Florida. However, it had been involved in a legal tussle with the state after the company voiced opposition to a parental rights in education bill. Earlier this year, Disney agreed to nullify a 30-year development plan it secured last year.
Under its latest agreement with the Central Florida Tourism Oversight District, Disney will invest nearly $17 billion to develop the resort over the next 10 to 20 years. The deal also enables Disney to set up its fifth theme park and add nearly 14,000 hotel rooms.
Disney’s Promising Titles This Month
But the favorable twist in Disney’s tale does not end here. Its latest Star Wars-based offering, The Acolyte, has notched the biggest series premiere for Disney+ this year. The premiere episode of the series has clocked nearly 11.1 million views in its first five days of streaming.
Another promising title from Disney’s stable is Inside Out 2. The film earned nearly three times more than its prequel in Korea on its release day. Inside Out 2 is set to hit U.S. theaters tomorrow. Its prequel generated nearly $859 million globally, and Disney will be hoping for similar success this time around.
What Is the Target Price for DIS Stock?
Disney’s share price is up by nearly 11.6% year-to-date. Overall, the Street has a Strong Buy consensus rating on the stock, alongside an average DIS price target of $129.38.
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