DISNEY STOCKS RISE AFTER MORGAN STANLEY RAISES ITS PRICE TARGET
Walt Disney’s stock is currently trading at 138.50-higher by 2.05% as compared to the previous closing price. In the pre-market trading session, the stock was trading higher by 1.70%. The stock has continued gaining after the opening bell.
Investment bank Morgan Stanley raised its price target on Disney’s stocks to $160 from $135. The investment bank hiked its price target citing stronger estimates for the company’s key Disney plus direct-to-consumer service.
Morgan Stanley now expects more than 130 million global over-the-top subscribers by 2024. Subscriber number was in line with Disney’s own new guidance. Morgan Stanley has an overweight rating on Disney shares. Stocks of the company have rallied around 24% so far this year.
On the technical front, the RSI is currently at 64.65% and suggests that the market can move in the upward direction. The current price is above the MA5. The current price is above the middle line of the Bollinger Bands and is heading upwards.
TRADE SUGGESTION- STOP BUY AT 138.70 TAKE PROFIT AT 139.40 STOP LOSS AT 138.35