Disney could be cheap relative to Netflix considering new streaming focus, MoffettNathanson says

Disney cast members pose in front of Cinderella Castle.
(Photo by David Roark/Walt Disney World Resort via Getty Images)

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Disney announced a major reorganization on Monday after the market closed, in what MoffettNathanson said will solidify the company's position as a leader in the world of streaming, possibly making it second only to Netflix.

The stock looks undervalued relative to Netflix once the company's parks business is thrown in, given that attendance should once again pick up in the wake of the coronavirus pandemic.