The selloff in Walt Disney shares after the release of its latest earnings on Tuesday was "overdone," according to Barclays, which is bullish on the company's streaming results. Shares tumbled nearly 10% Tuesday after Disney missed revenue estimates for a fourth quarter in a row. Disney's guidance for its experiences segment in the current quarter was also weaker than expected.
He remains overweight on the stock while slightly pulling back his price target to $130 from $135, implying 23% upside from Tuesday's close.
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