Disney’s Price Target Cut at Morgan Stanley on Theme Park Concerns (DIS)


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Entertainment giant The Walt Disney Company ( DIS ) saw its price target lowered on Monday by analysts at Morgan Stanley.

The firm lowered its target for DIS to $40, which represents a potential 21% upside to the stock's Friday closing price of $33.03. Morgan Stanley noted that its theme parks segment would likely be hurt by declining consumer confidence, but maintained its "Overweight" rating on the stock.

Disney shares were mostly flat in premarket trading Monday.

The Bottom Line
We recently removed shares of DIS from our recommended list, when the stock was trading at $37.04. The company has a 1.06% dividend yield, based on Friday's closing stock price of $33.03. The stock has technical support in the $29-$30 price area. If the shares can firm up, we see overhead resistance around the $35 price level. We would remain on the sidelines for now.

The Walt Disney Company ( DIS ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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