Goldman Sachs Reiterates Buy Rating on Walt Disney (DIS)

Goldman Sachs analyst Michael Ng reiterated a Buy rating and $120.00 price target on Walt Disney (NYSE: DIS).

The analyst comments "In anticipation of Hurricane Milton's projected landfall on October 9th in central Florida, we update our Parks and Experiences estimates to reflect potential impacts to Walt Disney World in F1Q25E. Specifically, we estimate a $150 mn - $200 mn adverse impact to F1Q25E Parks & Experiences EBIT driven by a 4 pp adverse impact to domestic attendance growth in F1Q25E based on historical headwinds from hurricanes due to closure and disruption times. For instance, Hurricane Irma in 2017 was a $100 mn headwind to DIS EBIT and a 3 pp headwind to domestic parks attendance with 2 days of closure at Walt Disney World and some cruise ship itinerary disruptions. Our F4Q24E estimates (published 9/24/2024) are largely unchanged and continue to expect DIS to deliver F4Q24E EPS of $1.16 (v. Visible Alpha Consensus Data of $1.10) and segment OI of $3.8 bn (in-line with consensus). That said, we reduce our F1Q25E Parks and Experience EBIT from the estimated hurricane impact, reducing our F2025E EPS estimate to $5.14 (v. $5.22 prior and $5.13 consensus). Our F2026/27 EPS are essentially unchanged on average at $5.96/$7.10."

For an analyst ratings summary and ratings history on Walt Disney click here. For more ratings news on Walt Disney click here.

Shares of Walt Disney closed at $92.39 yesterday.

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