Disney Stock Drops on Mass Furloughs

Guggenheim raised its target price to $100

Laura McCandless

Deputy Editor

Apr 13, 2020 at 10:17 AM

Walt Disney Co (NYSE:DIS) is down 2% to trade at $102.38 at last check, despite receiving a $2 target price raise by Guggenheim to $100. Meanwhile, the worldwide entertainment company is furloughing 43,000 workers, effective April 19, after closing resorts last month due to the coronavirus pandemic.

Taking a look at the charts, Disney stock just breached familiar resistance at the 30-day moving average for the first time since December, but following today's drop looks to be backtracking from the defeat. This comes almost one month after the equity hit a more than five-year low of $79.07, on March 18. Longer-term, DIS is down 27.7% year-to-date.

Coming into today, 12 out of 17 analysts consider DIS a "buy" or "strong buy" rating, leaving plenty of room for more downgrades in the weeks ahead. Echoing this, the stock's 12-month consensus target price of $135.04 is a 29.2% premium to current levels.

Follow @Schaeffers

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.