Loop Capital lowered the firm’s price target on Disney to $120 from $125 but keeps a Buy rating on the shares. With CFO Christine McCarthy stepping down due to family health issues, Disney Board is now in a position where it will be performing both CFO and CEO searches almost simultaneously, and during one of the periods of greatest change for the company and the entertainment industry, the analyst tells investors in a research note. The firm further speculates that the Board might ask Mr. Iger to remain the company CEO for an additional year.
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