BofA on Walt Disney (DIS): 'Gearing up for fiscal 2H acceleration'

BofA Securities analyst Jessica Ehrlich reiterated a Buy rating and $125.00 price target on Walt Disney (NYSE: DIS).

The analyst comments "We project F2Q will reflect several moving parts in the underlying business. Most importantly, in Experiences, F2Q should continue to be impacted by attendance headwinds, particularly from international visitors at domestic parks, along with cruise ship pre-opening costs. More positively, despite the recent increases in fuel prices, it does not appear the rising price of oil will have a meaningful headwind to results as DIS hedges some of their fuel exposure and their fleet is more fuel efficient/utilizes more alternatives. We currently project ~5% revenue growth in Experiences in F2Q. In addition, Sports OI will be back half weighted reflecting the new NBA media rights deal. With investors focused on a potential early NFL renewal, we continue to view NFL’s ownership stake in ESPN as a sign of strategic alignment."

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 $97.95 yesterday.

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