Disney — on the verge of launching its streaming service — is the 'best name in media,' says Wells Fargo

Chief executive officer and chairman of The Walt Disney Company Bob Iger walks on the floor of the New York Stock Exchange (NYSE) before ringing the opening bell, November 27, 2017 in New York City.
Getty Images

Disney's entrance into video streaming sets it up to dominate the media industry, according to Wells Fargo.

The firm initiated coverage of the stock with an outperform rating and a $173 price target. Wells Fargo also made Disney, which currently trades around $134 per share, a Top Pick.

More In Pro News and Analysis

CNBC ProLive for today or trade tomorrow? Breaking down the heated stock market battle unfolding right now
CNBC ProThese stocks are good short-term bets on the economic reopening, analysts say
CNBC ProOne ETF tracking the broader stock market paid off this week amid the sell-off