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Disney still has 24% upside - Goldman

Jan. 17, 2017 12:56 PM ETThe Walt Disney Company (DIS) StockDISBy: Stephen Alpher, SA News Editor25 Comments
  • There are four key catalysts, says Goldman's Drew Borst, upgrading Disney (DIS) to Buy from Neutral, and lifting the price target to $134 from $109.
  • 1) The company's 2018 film slate "might be its best ever," with four Marvel movies, two Star Wars films, and three animated productions scheduled.
  • 2) ESPN headwinds should abate thanks to normalization in NBA costs. Upside should come from stabilization in pay TV subscribers and/or traction from the launch of ESPN OTT service.
  • 3) Major new park attractions are scheduled to begin opening between this year and 2019.
  • 4) Disney is set to benefit most in its peer group from corporate tax reform. Should the corporate rate be lowered to 25%, full-year 2018 EPS could rise 9%.
  • Source: Benzinga

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