Piper Jaffray analyst Stan Meyers reiterates an Overweight rating on Disney (DIS) after the company’s Q2 results meet his expectations but fell short of expectations.
The analyst continues to believe the upcoming film slate will drive “significant value” over the next five years despite the decelerating pace of growth at ESPN. Meyers points out that management said ESPN ad sales are pacing up 5% in the current quarter while ABC’s scatter pricing is trending 20% above upfront levels.
He keeps a $120 price target for Disney shares. The stock traded down 5% in the after-hours last night to $101.39.
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