Disney's stock may have had a rough time recently, but "Fast Money" traders see an opportunity.

Trader Guy Adami said that with the stock down more than 20 percent in the last couple of weeks, the valuation is reasonable. He also has faith the CEO Bob Iger will "figure it out."

"I understand the problems they are having on the cable sides of things, but I also think he's one of the best managers out there. You've got to give him the benefit of the doubt. If the market stabilizes in any way, it goes to $110," he said on Friday.

Trader Steve Grasso is long Disney. "I do believe it's going to work its way up and I do believe they [Disney] are the king of content."

He also said that Netflix too could benefit from its deal with Disney. "The Netflix deal with Disney kicks in 2016, so they're going to get Star Wars, Marvel and superheroes. There's a lot of content that is going to save both stocks," he said.

Read More Why it might not be time to dump Disney shares

Trader Brian Kelley said that Disney is a place to buy when the market gets stronger. "You have a great risk-to-reward ratio. You could get it up to $115. Disney is where you look when the market starts to rip," he said.

Disclosures:

STEVE GRASSO

Steve is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, FIT, KBH, MJNA, MU, PFE, PHM, T, TWTR, GDX, firm is long MAT, MCD His kids own EFA, EFG, EWJ, IJR, SPY.

BRIAN KELLY

Brian Kelly is long BBRY, TWTR calls, Bitcoin, U.S. Dollar; he is short British Pound, Euro, Ruble, Yen, Yuan, US Treasuries.

GUY ADAMI

Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck.