Disney price target raised to $134 from $128 at Evercore ISI

Evercore ISI raised the firm’s price target on Disney (DIS) to $134 from $128 and keeps an Outperform rating on the shares. Management “surprised the Street” with its Q4 print by rolling out of “detailed and healthy” multi-year guidance that calls for adjusted EPS to grow high-single digits in FY25, implying roughly $5.30-$5.45, and double digit growth in both FY26 and FY27. Taking the very low-end of management’s targets implies $6.40 in EPS in FY27, matching the pre-release consensus, but assuming the rough mid-point for FY25 and low-teens growth in FY26 and FY27 gets to $7 of earnings in FY27, the analyst noted.