DIS - Disney Just Hit Another 52-Week High: 3 Reasons It Can Keep Moving Higher
2024-03-27 04:30:00 ET
Walt Disney (NYSE: DIS) keeps climbing out of the doghouse. Shares of the entertainment giant were moving higher Monday after Disney got an analyst upgrade from Barclays . Analyst Kannan Venkateshwar raised his rating on Disney to overweight and lifted his share price target to $135.
Venkateshwar anticipates positive revisions to earnings estimates and believes the company is still in the early stages of its turnaround, which comes as returned CEO Bob Iger spent much of the last year restructuring the company to better take advantage of growth in the streaming era.
The upgrade, which helped push the stock to a new 52-week high, was the latest bullish signal for Disney and the stock price is now up roughly 50% from its 52-week low. However, there are several reasons to believe the stock can continue climbing from here. Let's look at three of them.
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Disney Just Hit Another 52-Week High: 3 Reasons It Can Keep Moving Higher