Disney price target lowered to $110 from $130 at Morgan Stanley

Morgan Stanley analyst Benjamin Swinburne lowered the firm’s price target on Disney to $110 from $130 and keeps an Overweight rating on the shares. The firm sees “enough data points at this point” to take a more cautious view of Disney’s parks business in FY25, but adds that much of this appears priced in with shares off 23% since Q2 earnings were reported in May. The firm’s FY25/FY26 adjusted EPS forecasts have come down by about 4.5% and 1.5%, respectively, as a more bullish film outlook partially offsets the Parks caution, the analyst tells investors, adding that the firm views the recent correction as “a buying opportunity in shares.”