Walt Disney Co. shares were up 1% Thursday despite a stinging research note that downgraded the company’s stock and lowered its price target as it grapples with the spreading coronavirus pandemic.
“We have lowered our revenue and operating profit estimates across all segments, with parks and resorts closures driving the most significant changes,” Morris wrote. “In addition, we anticipate advertising pressure at media networks and lost profits due to the suspension of both feature film production and theatrical releases.”
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