UBS has upgraded The Walt Disney Company from neutral to buy status. They have lifted Disney’s price target to $200, up from $155.
Analysts said, “We believe Disney is positioned to achieve scale similar to industry leader Netflix with 340M+ global subscribers by 2024 while its premium IP creates pricing power and enables the company to spend less per sub on content, driving better economics over time.”
UBS predicts Netflix will be at 316 million subscribers in 2024.
Disney+ has been booming in its first year, with 2.3 million downloads over the holidays, dozens of original projects planned, and over 86.8 million subscribers as of December.
Disney closed at $171.28 yesterday, January 22, 2021.
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Another example of how Disney+ is literally holding up the company these days. Obviously, theme parks are not (especially in California!)