Deutsche Bank sees an over 10% potential upside in Disney stock

The Walt Disney Co (NYSE: DIS) has not been exciting for its shareholders in 2021, with the stock roughly flat year-to-date. But Deutsche Bank still has high hopes for the mass media and entertainment conglomerate.

On Friday, Deutsche Bank’s Bryan Kraft reiterated his ‘buy’ rating on the stock, although with a lowered price target of $200 a share, which still represents an over 10% potential upside from here. In his note this morning, the analyst said Disney was a “very attractive long-term holding”.

Snipe’s remarks on CNBC’s “Halftime Report”

Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

Odyssey Capital Advisors’ Jason Snipe, who has recently bought Disney shares, agrees with Deutsche’s buy rating. On CNBC’s “Halftime Report”, he acknowledged that the stock had underperformed this year but said:

“I see a long-term opportunity for Disney in theme parks and advertising. Streaming is a competitive industry, but I still see upside there as well. They’ve been on the offence since the start of the pandemic and have done a great job in restructuring their debt.”

Cerity Partners’ Lebenthal is sticking to Disney

During the same interview, Cerity Partners’ Jim Lebenthal also confirmed that he was positive on Disney. He has owned the stock for over a year and expressed no plans of pulling out anytime soon.

“It’s a stock that’s on consolidation. It went up about 70% from late October to early March. After a move like that, it’s normal for the stock to consolidate,” he said.

Lebenthal cited a strong balance sheet, great streaming business, and reopening of the theme parks as other reasons why he’s bullish on Disney.

“I’m not going to listen to anyone who talks about valuation because it’s a stock that’s recovering from the pandemic still,” he added.  

Disney shares are up about 2.0% on the intraday chart.