(News Bulletin 247) – KeyBanc Capital Markets yesterday downgraded its recommendation on the Disney stock, reduced from ‘overweight’ to ‘weight in line with the sector’.
In a research note, the American bank said it expressed some concerns about the performance of the entertainment giant’s theme park branch, which it said was subject to overly optimistic forecasts.
As for the Disney+ and Hulu streaming services, KeyBanc points out that the growth in their number of subscribers now seems to be slipping, while the ESPN offer offered online is also struggling to take off, viewers visibly having trouble letting themselves go. try a paid subscription.
Under such conditions, the firm explains ‘preferring to stay away from the value, taking note of a notable uncertainty’, and says to wait ‘for new catalysts, the choice to buy back the low points on the title having been so far proved unprofitable’.
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