According to a recent report in DEADLINE, Wall Street analyst Steven Cahall is predicting a profitable third quarter for the Walt Disney Company despite the poor performance of Solo and the uncertainty that remains among media analysts regarding the merger between Disney and Fox.
Despite these shortcomings, Cahill still rates The Walt Disney Company as a solid pick for investors in the media sector with a 12-month price target of $135 a share which is up over its current level of $104.
However, the future remains uncertain as Disney will no longer be buying back $20 billion of its stock as soon as expected due to the bidding war with Comcast over the acquisition of 21st Century Fox. This ongoing battle is occurring even after Fox already accepted Disney’s $52.4 million offer last December. The ball for a merger currently sits with Comcast who could be competing with Disney in a bidding war of up to $40 per share ($80 billion dollar range.)
Readers are encouraged to watch this space for a closer look at The Walt Disney Company’s quarterly projections as well as updates on the Fox merger.
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