Walt Disney

DIS · NYSE

$111.67+$2.08 (+1.90%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $109.59

DIS analyst rating

BuyConsensus of 16 analysts over the last 12 months. 94% rate it a buy.

Strong buy0
Buy15
Hold1
Underperform0
Sell0

12-month price target · 35 analysts

Average $129.46 (+15.9% upside)

Low: $88.88
Now: $111.67
High: $151.20

Upgrades and downgrades

The latest rating actions, newest first

DIS analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Citigroup	Oct 16, 2026	Maintains	Buy	$135.00 → $140.00	60%
Needham	Oct 9, 2026	Maintains	Buy	$125.00	55%
Raymond James	Oct 5, 2026	Maintains	Outperform	$120.00 → $119.00	43%
Guggenheim	Sep 28, 2026	Maintains	Buy	$120.00	54%
Wells Fargo	Aug 6, 2026	Maintains	Overweight	$125.00 → $132.00	54%
Argus Research	Aug 6, 2026	Maintains	Buy	$134.00	61%
Benchmark	Aug 6, 2026	Maintains	Buy	$115.00	54%
Barclays	Aug 6, 2026	Maintains	Overweight	$110.00 → $115.00	56%
Guggenheim	Aug 6, 2026	Maintains	Buy	$120.00	54%
Rosenblatt	Aug 6, 2026	Maintains	Buy	$126.00	64%

The case for and against

Updated Oct 14, 2026

Bull case

Walt Disney is supported by a powerful mix of recurring and hit-driven revenue streams across Entertainment, Sports, and Experiences, with streaming now a meaningful profit contributor as SVOD revenue rose 11% y/y to $5.5B in FY3Q26 and operating margin reached 12.9%. Its outlook is strengthened by best-in-class intellectual property, which continues to monetize through theatrical releases, Disney+, Hulu, merchandise, parks, and cruises, even when individual films underperform, while Disney+ churn declined and Hulu integration should further improve retention. Experiences remains a core growth engine, with revenue up 10% y/y to nearly $10B and operating income up 20% to $3.0B, while Sports gained momentum with 4% y/y revenue growth to $4.5B and championship audiences more than doubling.

Bear case

Walt Disney is viewed negatively because shrinking linear TV revenue, competitive streaming ad pricing, and persistent DTC losses threaten the profitability of Entertainment and ESPN while content costs keep rising. The company’s FY27 free cash flow estimate was cut to $9.1 billion from $10.3 billion, reflecting faster cash content spend, higher Experiences capex, and an estimated ~$600 million 53rd-week benefit in FY26 that creates a tougher comparison. Even with Entertainment revenue up 6% to $11.35 billion and Sports revenue up 4% to $4.50 billion in the quarter, operating pressure from licensing declines, impairment charges, and softer ad trends underscores limited fundamental momentum.

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