KeyBanc Capital Markets analyst Brandon Nispel sees "meaningful uncertainty" for Disney's stock, one reason he's downgrading the media name.
KeyBanc Capital Markets analyst Brandon Nispel sees “meaningful uncertainty” for Walt Disney Co.’s stock, one reason he’s downgrading the media name.
Nispel has various concerns about Disney DIS , including that expectations for its parks business seem too high and that the company faces a daunting journey as it contemplates a standalone streaming future for its flagship ESPN service.“While this note might call the bottom, we have our doubts,” he wrote in a note to clients as he lowered his rating on the stock to sector weight from overweight late Wednesday.
Within the parks business, Nispel looked at domestic geolocation data for Disney and Universal Theme Park, and he determined some Florida weakness for the first two months of the quarter. Meanwhile, Walt Disney World will be compared to a year-ago period in which it celebrated its 50th anniversary.The company could face other challenges in parks, including around margins, given a new labor contract in Florida.
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