Imperial Capital analyst David Miller raised his price target for Walt Disney (DIS) to $139 from $129 and maintains an Outperform rating on the shares.
The stock closed Friday up 11.5%, or $13.46, to $130.06.
Once the Street becomes more aware of the Disney's fiscal 2020 film slate, all three over-the-top streaming services being rolled out, both Star Wars lands being up and running, and its share buybacks resume, there's no reason why the stock cannot re-establish a trading multiple in the high-teens, Miller tells investors in a research note.
Specifically, he sees the stock reaching 18 times his fiscal 2021 pro forma earnings per share estimate of $7.70.
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