BMO Capital analyst Daniel Salmon upgraded Disney (DIS) to Outperform from Market Perform and raised his price target for the shares to $140 from $114.
The shares closed yesterday up 2% to $116.86 after Cowen upgraded the stock and Citi boosted its price target.
With tomorrow's investor day, two Star Wars-themed lands opening in the domestic parks this summer, the launch of streaming service Disney+ before year-end, and a potential re-start of the buyback program within 12 months, Disney shares now have catalysts to go along with downside protection, Salmon tells investors in a research note.
The analyst, who admits he continues to like Netflix (NFLX) and Amazon.com (AMZN) more than Disney, is comfortable recommending all three names as he expects them all to be long-term winners in global direct-to-consumer streaming.
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