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Disney: Sentiment Shift For Limited Time

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  • Disney's stock is expected to rally in the short term due to the Penn Gaming deal and bouncing off the $85 support level.
  • Disney's streaming business is struggling, with declining subscribers for the key ESPN+ service.
  • The stock trades at 17x aggressive FY24 EPS targets, providing limited upside on any rally.
After a horrible year, Walt Disney Company (NYSE:DIS) appears poised for a quick rally over the short term. The company has not resolved the problem in the streaming market with weak subscriber numbers and the Penn Gaming (PENN) deal amounts to a very small deal to enter the gaming sector. My investment thesis is now bullish on Disney for a quick trade before the really tough market of the last couple of years has led to a double bottom for the stock around $85.

Read the full article on Seeking Alpha. 

Disclosure: No position mentioned. Please review the disclaimer page for more details. 

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