Disney 'attractive' here; Carvana looking rosy near term: 5 big analyst picks
Investing.com — Here is your Pro Recap of the biggest analyst picks you may have missed since Friday: an initiation at Outperform for Walt Disney , as well as upgrades for Carvana , Micron, Unity Software, and Shake Shack.
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Raymond James initiated coverage on Walt Disney (NYSE:DIS) Monday with an Outperform rating and a price target of $97.00.
The firm believes Disney's assets position the company favorably in the evolving media landscape, as it offers strong streaming services and a valuable portfolio of intellectual property.
The analysts elaborated:
«With two scaled U.S. Streaming services in Disney+ (46M domestic subs) and Hulu (48M), as well as ESPN+, Disney is bundling its services, driving higher Average Revenue Per Account (ARPA), lower churn, and strong pricing power.»
Shares were nearly unchanged at the open Monday.
Micron Technology (NASDAQ:MU) shares rose more than 1% pre-market Monday after Deutsche Bank upgraded the company to Buy from Hold and raised its price target to $85.00 from $65.00.
Deutsche Bank noted that its previous neutral stance on Micron was based on the challenges besetting the semiconductor industry, such as excess inventory in the supply chain and weak macroeconomic demand.
The analysts said, however, that they «now see the worst of the downcycle as behind us, given aggressive production cuts by all suppliers, as well as pockets of demand strength particularly in AI servers (for both HBM and DDR5).»
Shares were trading up 0.9% to $70.49 early in Monday trading.
Wedbush on Monday upgraded beleaguered used-car purveyor Carvana (NYSE:CVNA) to Neutral from Underperform with a $48 price target.
The analysts
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