Goldman Sachs analyst Michael Ng reiterated a Buy rating and $151.00 price target on Walt Disney (NYSE: DIS).

The analyst comments "Bottom line: DIS should trade higher with results better-than-feared and F26 guidance reiterated, balanced by the F2Q26 outlook more mixed including at Experiences on international visitation headwinds and prelaunch/preopening costs. EBIT of $4.60 bn was in-line with KPIs including (1) SVOD EBIT of $450 mn beat and DIS presenting a full SVOD P&L in supplementary details (e.g., revenue by subscription & advertising, programming costs, EBIT); (2) domestic parks attendance +1% yoy (in-line with GSe), per caps of +4% (v. GSe: +5% yoy), and Walt Disney World F26 room bookings +5% yoy weighted to F2H26; and (3) buybacks of $2 bn, reiterating $7 bn for F2026. DIS closed its acquisition of the NFL network on 1/31. In our view, the downside risk case largely failed to materialize which included concerns around domestic parks attendance and per caps and limited SVOD disclosures. We continue to see DIS shares as attractive, trading at <17X F2026 P/E with EPS growing at an 11% CAGR (F2025-2030E). Earnings should accelerate through F2026 as SVOD demonstrates operating leverage and parks momentum builds. DIS F1Q26 EPS of $1.63 beat GS/consensus (Visible Alpha Consensus Data) of $1.59/$1.56 with segment EBIT in-line as an Experiences beat offset misses elsewhere. F2026 guidance and all of its elements were reiterated (including it being back-weighted) but the F2Q26 outlook was more mixed including Entertainment EBIT flat yoy (missed as F2Q25A $1.26 bn v. F2Q26E consensus of $1.50 bn) and SVOD EBIT of $500 mn; Experiences EBIT modest growth (missed v. consensus +6% yoy); and Sports EBIT -$100 mn yoy (miss v. consensus of $640 mn or -$47 mn yoy)."

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Shares of Walt Disney closed at $112.80 yesterday.