Citi analyst Jason Bazinet maintained a Buy rating on Walt Disney (DIS – Research Report) on February 21 and set a price target of $125.00.
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Jason Bazinet has given his Buy rating due to a combination of factors including Disney’s strategic decision to exit its MLB media rights deal early. This move allows Disney to potentially allocate resources more efficiently and capitalize on other opportunities in the sports media rights market. The early termination of the MLB contract, originally set to expire in 2028, now opens up for new bidders by 2026, indicating a proactive approach in managing its media rights portfolio.
Additionally, with the anticipated availability of $1.7 billion or approximately 5% of U.S. national sports rights over the next year, Disney is well-positioned to leverage its strong market presence. This strategic maneuver is expected to contribute positively to Disney’s financial performance, justifying a projected share price return of 13.1%. Therefore, these factors collectively support Bazinet’s optimistic outlook on Disney’s stock.
In another report released on February 10, Rosenblatt Securities also maintained a Buy rating on the stock with a $135.00 price target.
DIS’s price has also changed moderately for the past six months – from $90.720 to $108.660, which is a 19.78% increase.