Walt Disneyof (NYSE: DIS) The annual fan event didn’t move the stock, but a big cut in analysts’ price targets also made things worse. Neither of these had a big impact on the stock, but Disney slid into negative territory on Monday. S&P 500 The index remained flat.
Big changes in parks
At the D23 Expo, much of Disney’s advertising was focused on the numerous expansions and additions to their amusement park network.
The company is planning a major expansion of its Walt Disney World in Florida, including a new attraction that will include a “land” dedicated to the villains of Pixar’s character franchise. The company has already started construction on the land. car The franchise will be the theme of two new attractions in the redesigned Frontierland, including races and family rides.
As for Disneyland in California, the company plans to build new areas and attractions based on Marvel’s Avengers superheroes, as well as attractions set in the Marvel Avengers universe. Avatar movie.
One analyst’s response
It’s fair to say that D23’s announcement didn’t impress Accountability Research analyst David Heasman, who on Monday downgraded his recommendation on Disney shares to Hold from a previous Buy rating. He now has a price target of $95 a share.
It wasn’t immediately clear why he made the decision. It came less than a week after Disney reported its third-quarter earnings, which showed some notable positive news, including the profitability of Disney+. Streaming Services And the two compelling beats didn’t have much of an impact on the stock price.
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Why Walt Disney shares fell on Monday Originally published on The Motley Fool
