Entertainment juggernaut Walt Disney’s stock is riding the winds of widely popular content and fundamentals that make it the “blue chip of entertainment stocks,” two analysts said Friday.
In August, Disney reported lighter-than-expected revenue for the fiscal third quarter. The company also announced a $50 million loss Thursday based on weak ad revenue, putting pressure on its shares on Friday.
Nonetheless, analysts remain bullish on its prospects. Disney’s stock recently surged to new 52-week highs, based largely on the strength of its parks and resorts. The home of such iconic figures as Mickey Mouse and sports broadcasting titan ESPN remains enduringly popular with the public, they said.