Deutsche Bank analyst Bryan Kraft lowered the firm’s price target on Disney to $115 from $120 and keeps a Buy rating on the shares. The analyst believes Disney has “turned the corner” to sustained positive earnings growth with the positive inflection in the September quarter. The firm is a buyer of the stock on improving fundamentals, including continued strong theme Parks growth and improving streaming profitability, partially offset by declines in linear TV and a light 2024 film slate. It reduced its above-consensus estimates, driven by a slower ramp toward streaming profitability, but remains positive on the shares at current valuation levels.
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