Here's how analysts say to trade Disney ahead of its earnings announcement
Wall Street will be seeking insight from Disney executives on Wednesday as the entertainment giant navigates through turbulent times. Disney has been wrestling with a series of difficulties including inconsistent box office performance and the ongoing strike among Hollywood's actors and writers. The stock's performance has also been lackluster, up about 1% in 2023. The company will post fiscal third-quarter results after Wednesday's close.
Nonetheless, analyst John Hodulik acknowledged continued pressure in advertising and mixed performance in its Parks segments. Hodulik has a price target of $122 on shares, implying 38.4% upside from Tuesday's close. Evercore analyst Vijay Jayant also brought down his price target on shares to $110 from $130 on July 23, anticipating that the company will "modestly underperform" consensus estimates.
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