Disney price target raised to $130 from $120 at UBS

UBS raised the firm’s price target on Disney (DIS) to $130 from $120 and keeps a Buy rating on the shares. Disney reported solid Q1 results with better profitability across operating segments, and management maintained guidance across the board for the full year, highlighting the evolving macro backdrop, but believes it is now in position to outperform, the analyst tells investors in a research note. UBS believes the results help de-risk the full year outlook and remains constructive on a multiyear acceleration in earnings growth, led by ramping DTC profitability and improvements at the Parks.