Disney price target raised by Morgan Stanley on streaming push and vaccine news

Attendees visit the Disney+ streaming service booth at the D23 Expo on August 23, 2019 at the Anaheim Convention Center in Anaheim, California.
ROBYN BECK | AFP | Getty Images

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A potential Covid-19 vaccine paired with Disney's aggressive push into streaming spurred Morgan Stanley to get more bullish on the media giant.

The Wall Street firm — which has an overweight rating on the stock — hiked its 12-month price target on Disney to $160 per share from $135. Disney rallied 8% this week, past the previous target, on Pfizer/BioNTech's breakthrough announcement about their vaccine candidate. Disney's stock closed at $137.82 per share on Wednesday.