Where To Buy Disney Stock
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All eyes are on November's upcoming payrolls report, due out Dec. 2. Further, the Federal Reserve's Dec. 13-14 meeting looms ahead, and investors await the central bank's next steps on its monetary policy campaign. There is still plenty of time for stocks to churn before the year ends.
This means investors need to shift their focus toward longer-term prospects instead of fixating on near-term gyrations in the market. See below for five stocks picked by Wall Street's top pros, according to TipRanks, a platform that ranks analysts based on their previous performance.
However, after the company posted its quarterly results, Susquehanna analyst Christopher Rolland noticed that Nvidia is "getting back on track." This prompted him to reiterate a buy rating on the stock and raise the price target to $185 from $180. (See Nvidia Dividend Date & History on TipRanks)
Another of Rolland's stock picks is semiconductor company Marvell Technology (MRVL), which is slated to post its third-quarter fiscal 2023 results on Dec. 1. Ahead of the print, the analyst identified several dampening factors that are expected to be a near-term sore point. Keeping that in mind, Rolland trimmed the price target to $75 from $90.
Earlier this month, project management tool provider Monday.com (MNDY) delivered banner quarterly results, which buoyed the confidence of investors and analysts alike. Among the Monday.com bulls was Tigress Financial Partners analyst Ivan Feinseth, who reiterated a buy rating on the stock.
Entertainment company Disney (DIS) is another stock on Feinseth's buy list. The analyst recently reiterated a buy rating and $177 price target on the stock, mainly encouraged by the return of former CEO Bob Iger, who is expected to drive "a return to creativity dominance."
But analysts say the selloff has made Disney stock a long-term bargain at current levels. And they are especially keen to see what the company has to say about its streaming and theme parks businesses.
Morgan Stanley analyst Ben Swinburne, for one, estimates that theme parks and streaming will lift Disney's adjusted EPS back above prior peak levels in fiscal 2025. That should support upside of roughly 40% in Disney stock over the next two years, he says.
Swinburne, of course, rates DIS at Overweight (the equivalent of Buy), and he has plenty of company on the Street. Of the 30 analysts issuing opinions on Disney stock tracked by S&P Global Market Intelligence, 18 rate it at Strong Buy, seven say Buy and five call it a Hold.
Disney stock currently changes hands at not-quite 19 times analysts' fiscal 2023 EPS estimate. That's an attractive price to pay for a company expected to grow EPS at an average annual pace of more than 33% over the next three to five years.
The stock hit an all-time high closing price of $201 on 8 March 2021, after California announced it would allow ballparks, stadia and theme parks to reopen for outdoor activities starting 1 April 2021.
Disney has been on a downward trajectory since the beginning of 2022, despite starting strong at $157.83 on 3 January. At the time of writing (1 December 2022), the stock was trading at $97.64, below the pre-pandemic level.
Always conduct your own due diligence by reviewing the most recent analyst commentary, Disney stock news, technical and fundamentals analysis. Remember that your decision to trade or invest should be based on your risk tolerance, market expertise, portfolio size and investment goals.
According to data compiled by MarketBeat as of 1 December 2022, the consensus average analyst price target for the coming 12-month period was $132.07. The Disney stock price targets ranged from a high of $185 and a low of $94.
Your decision to invest in Disney stock should be based on your risk tolerance, investing goals, and portfolio composition. You should do your own research about the stock by reading the latest DIS stock news, technical and fundamental analysis.
For example, Disney+ could bump up the stock value IF