Walt Disney’s (NYSE: DIS) stock reached a peak of $200 in early 2021. Since then, the share price has continued sliding down to pre-pandemic levels, barely holding above $85.

This can be attributed to the recent controversies, including partnering with a controversial TikTok influencer and replacing the Seven Dwarfs from the classic fairytale with a mix of non-Dwarf characters.

Wall Street analysts, however, believe the worst is over and we may see a move higher within the next 12 months.

The average analyst target price sees a 26% gain

Analyst consensus at TipRanks is a ‘moderate buy’ for the Walt Disney stock based on 19 analysts in the last three months. Their average price target is $110, 26% higher than the current price of $87.

TipRanks analyst price target. Source: Interactive Brokers Fundamentals Explorer

Disney recently reported its Q3 earnings this year. The results were mixed, ranging from a 7.4% decline from the previous quarter in subscribers to their Disney+ streaming service to a 13% increase in revenue from its parks, experiences, and products divisions.

DIS stock technical analysis

Unlike the analysts’ optimism, the Disney stock price chart paints a different picture.

The stock price has formed a descending triangle pattern since August 2022. This is a bearish pattern, meaning the price typically breaks out on the lower side of the triangle.

In this case, a break of the $85 support level would open the way to $50 as the next price target. 

DIS stock, daily price chart. Source: StockCharts.com

The $85 level has proven to be a strong support price, meaning a strong catalyst is required to push the price lower.
DIS is down 2% year to date, underperforming the S&P 500’s 16% return during the same period.

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The post Wall Street sets Disney stock price for the next 12 months appeared first on Finbold.

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Dennis is a business and financial writer, who had spent almost his entire life independently reporting on different business ventures with major impact on the US and global economy. Dennis places a special focus on examining tech stocks, biotech stocks all while investing a great part of his early hours to researching and writing on the companies in the US markets. Dennis has 15+ years of experience in financial markets.