Disney faces short-term pressures as park attendance slows and competition rises [Wealth Professional (Canada)]
Walt Disney Company (The) (DIS)
Last walt disney company (the) earnings: 2/4 04:05 pm
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Source: Wealth Professional
Walt Disney Co.'s parks division is facing challenges that have weakened its near and medium-term outlook, according to an analyst who recently downgraded the company's stock, as reported by BNN Bloomberg. Ric Prentiss, managing director of tech, media, and telecom research at Raymond James, explained in an interview that Disney's parks are a key part of its stock valuation, but the business is under pressure from several external factors. Prentiss pointed out that extreme weather events have impacted travel to Disney's parks in Asia and Florida. Additionally, Disneyland Paris saw decreased attendance this summer, as the nearby Olympic Games drew visitors away. On Tuesday, Raymond James lowered its rating for Disney to “market perform” from “outperform,” with a price target of US$101. Disney shares were trading around $94 by midafternoon on Wednesday in New York. Prentiss also noted that demand for Disney parks is flattening as the surge in post-pandemic travel slows. “That d
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News
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DIS
Earnings
- 8/7/24 - Beat
DIS
Sec Filings
- 10/2/24 - Form 4
- 10/2/24 - Form 4
- 10/2/24 - Form 4
- DIS's page on the SEC website