For anyone interested, I thought I'd share this. I own a little stock in Disney, so I keep track of their financial news. The experts are expecting "widespread closures" to last through
the end of June. I'm sorry, I don't mean to be negative Nellie, but I can't help but wonder what that will do to our September visits. Shanghai Disney closed January 25th. Almost 6 weeks later they opened some shopping, dining, and "leisure activities". Almost 4 weeks later they haven't announced an official opening date.
Disney closed the parks on March 12th. March 27th they announced they will remain closed "indefinitely". The earliest resort reservation that can be made right now is June 1st.
Somebody convince me why I should remain optimistic.
Morgan Stanley trims Disney target on outbreak hit
Apr. 1, 2020 10:56 AM ET|About:
The Walt Disney Company (DIS)|By:
Jason Aycock, SA News Editor
• Morgan Stanley has cut the price target on a Walt Disney company (
DIS -1%) that's caught in the "crosshairs" of a recession and global pandemic.
• Widespread closures expected through the end of June will hit a variety of the company's businesses, analyst Benjamin Swinburne writes: parks and resorts, retail stores, global movie theaters, and live sports broadcasts.
• He's still overweight on the stock, and sees an "entry point worth the risk" in the company's recent decline (down 30% from November).
But he's cutting his price target to $130 from $170 (currently implying 36% upside).