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Disney Rides Upgrade Higher Midday; Streaming Details Eyed

Published 04/09/2019, 11:16 AM
Updated 04/09/2019, 11:20 AM
© Reuters.

Investing.com - Disney share rose in midday trading following an analyst upgrade as the market looked forward to details of its streaming service at its investor day Thursday.

Walt Disney (NYSE:DIS) rose 1.4% and the S&P 500 consumer discretionary sector rose 0.4%.

S.G. Cowen upgraded the stock to outperform from market perform and boosted its price target to $131 from $102, Briefing.com reported.

Cowen noted the potential for the streaming service, Disney+, and the company’s strong pipeline of films.

"We view Disney's catalyst path for the next year as highly attractive, and believe Thursday’s investor day will likely be a deck-clearing event for sentiment,” Cowen said.

But the are longer-term concerns about the company’s Fox acquisition, it added.

Wall Street already has a grasp on the content Disney can bring to its streaming service but will be looking for more details of how Disney+ will actually work, including pricing, on Thursday.

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