Walt Disney got a price target hike from an analyst at Loop Capital.
Analyst Alan Gould raised his price target on the media/entertainment behemoth to $170 from $165. In June, Gould had raised it to $165 from $140. The analyst maintained his buy rating on the stock.
On Tuesday, Disney said that its new streaming platform Disney+(launched this month) already garners close to 1 million new subscribers a day. The streaming platform includes content from Disney as well as Disney-owned properties like Marvel and the Star Wars franchise .
Gould expects 26 million subscribers for Disney+ in the first year, and said that the five-year target of 20-30 million domestic subscribers seems “quite conservative."