Atlantic Equities downgraded Disney's stock Tuesday amid concerns about linear TV and declining interest in franchises like Marvel.
Walt Disney Co. has been candid about the challenges it faces in linear television, but one analyst is worried that a “negative tipping point” looms in this part of the business.
Atlantic Equities analyst Hamilton Faber turned bearish on Disney DIS shares Tuesday, cutting his rating to underperform from neutral and lowering his price target to $76 from $113. Faber has concerns about linear advertising trends as well as a “degradation in performance” when it comes to Disney’s film franchises.
The trends aren’t particularly surprising given a dearth of quality programming on traditional TV, but they nonetheless may come to affect Disney in a significant way. Faber expects linear advertising troubles could trim nearly $1 billion off the company’s 2026 forecasted operating income.Chief Executive Bob Iger recently suggested openness to a potential sale of some Disney linear-television assets, but it remains unclear how realistic that might be.
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