Connect with us

Hi, what are you looking for?


Is Disney stock a ‘buy’ after Nelson Peltz ditched the proxy fight?

Walt Disney Co (NYSE: DIS) is in the green today after reporting a market-beating quarter and making a series of announcements that cheered shareholders.

Nelson Peltz says the proxy fight is over

Last night, the entertainment conglomerate revealed plans of cutting 7,000 jobs worldwide. According to Disney, it’s committed to trimming costs by a whopping $5.50 billion as Invezz reported HERE.

Interestingly, the update ended up being sufficient for the billionaire activist investor Nelson Peltz to call it quits on his proxy fight with the media company. On CNBC’s “Squawk on the Street”, he said:

This was a great win for all shareholders. Management at Disney now plans to do everything that we wanted them to do. We wish the very best to Bob, we’ll be watching, we’ll be rooting, and the proxy fight is over.

For the year, Disney stock is now up roughly 25%.

Is Disney stock worth investing now?

Also on Thursday, Wells Fargo analyst Steven Cahall raised his price objective on Disney stock to $141. That represents another 25% upside from here. His research note reads:

Bob Iger laid out a plan for cost cuts, content and streaming rationalisation and ultimately improved profitability. An execution story is a cleaner catalyst path, and the shares should track higher on confidence + estimates.

On the downside, Disney+ lost 2.4 million subscribers in Q1. Speaking this morning with CNBC, though, CEO Iger dubbed streaming “the future” and said making it profitable was right at the top of the list for him.

He’s also reorganising the company into three core businesses: Disney Entertainment, ESPN, and Parks, Experiences and Products.

The post Is Disney stock a ‘buy’ after Nelson Peltz ditched the proxy fight? appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like


    Reprinted from the Future of Freedom Foundation President Biden’s campaign to banish (or maybe outlaw) political paranoia took a wallop last spring. In April,...


    Inflation appears to be on the decline. The Personal Consumption Expenditures Price Index (PCEPI), which is the Federal Reserve’s preferred measure of inflation, grew...

    Editor's Pick

    It’s already a cliché, but technology is rapidly improving. And for many businesses, it’s hard to catch up. However, it’s not just the average...

    Editor's Pick

    At Broadband World Forum 2022, Fibocom launched 5G module FG370 based on MediaTek T830 platform, aiming to empower the deployment of 5G FWA for...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2022 All Rights Reserved.