Deutsche Bank analyst Brian Kraft has upgraded shares of Walt Disney Company Dis.
To buy from Monday, writing his confidence in the company’s execution on its direct-to-consumer (DTC) strategy. Kraft wrote, “The clearest path is to transform our general entertainment programming and content production businesses into a globally, successfully integrated streaming entertainment leader”. “The clear indication that Disney has been successful in changing its business model, aside from the results of influential customers, has led to the management’s decision to close some of its traditional networks in international markets including the UK,” he continued, as did Disney Has seen willing to write the goodwill associated with such tricks. This is a sign of “confidence in Kraft that DTC will exceed lost network revenue.” They increased their price target from $ 128 to $ 163. Disney shares closed down 0.5% in Monday’s trade amid widespread weakness in the market with the Dow Jones Industrial Average, of which Disney is a component, down nearly 425 points or 1.5%. Disney shares have fallen nearly 3% in the last three months as the Dow has gained 0.4%.