Analyst Implies 16.5% Upside for Disney Stock

Blackwells Capital pleaded its case for a spot on the company's board

Deputy Editor
Mar 25, 2024 at 9:31 AM
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The shares of Walt Disney Co (NYSE:DIS) are 1.1% higher at $117.24 this morning, after a bull note from Barclays. The brokerage upgraded the blue-chip entertainment stock to "overweight" from "equal weight" and hiked its price target by $40 to $135 -- a 16.5% premium to Friday's close.

In its bull note, Barclays said that DIS sports even more upside to pair with this year's outperformance. In addition, Blackwells Capital released a letter criticizing activist investor Nelson Peltz, saying "only Blackwells' nominees can bring constructive, independent and thoughtful change to Disney's board." 

On the charts, Walt Disney stock remains well above the $108 mark, which has been a floor of support for recent pullbacks from the equity. The security gapped higher by 11.5% after the company's Feb. 7 quarterly report and could have even more room to run. Year to date, DIS is already up 28.3%. 

Now could be a good time to weigh in on the security's next move with options. The stock is seeing attractively priced premiums at the moment, per DIS' Schaeffer's Volatility Index (SVI) of 23%, which sits in the 10th percentile of its annual range.

 

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