Disney is facing a multitude of headwinds, according to Atlantic Equities.
Disney is on the brink of a steep downturn in some of its key segments, which could put pressure on the stock, Atlantic Equities said. The firm downgraded Disney stock to underweight Tuesday and lowered its price target to $76 per share from $113. The firm's new forecast now implies a 12.2% decline from Monday's $86.60 close.
" The franchise's latest "Antman" installment saw the largest second-week box office drop-off ever for Marvel Studios . However, the most recent "Guardians of the Galaxy" film, released this year, hauled in more than $800 million at the box office, according to Box Office Mojo . Hamilton added that a hit to Disney's direct-to-consumer segment, which houses Disney+, will also continue to be a headwind — especially as advertising spending remains sluggish.
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Disney is teetering toward a ‘negative tipping point,’ newly bearish analyst cautionsAtlantic Equities downgraded Disney's stock Tuesday amid concerns about linear TV and declining interest in franchises like Marvel.
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