Walt Disney’s (NYSE: DIS) annual fan event did not cause a big increase in the company’s stock price, which was further exacerbated by an analyst’s large price target drop. Disney’s shares did not experience a significant decline on Monday, but they were still in the negative.Â
On a day when the S&P 500 index was flat, its shares fell by 0.3%. A significant park Disney made a lot of noise at its D23 Expo about all the new and exciting things it was adding to its chain of amusement parks.
New Attraction
The Walt Disney World in Florida will see a significant expansion by the firm. A “land”—a park area—dedicated just to the biggest villains in its cast of characters will be one of the new attractions. On the property, the company has already started construction.
Two new rides, one family-friendly and the other racing, will be featured in a revamped Frontierland, honoring the Pixar unit’s Cars brand.
The business intends to construct additional regions and attractions based on its Marvel Avengers superhero IP at the original Disneyland in California. Additionally, it is working on an attraction that takes place in the Avatar movie universe.
The Response Of One Analyst
It’s reasonable to say that Accountability Research analyst David Heasman was unimpressed with the D23 announcements. Heasman lowered his previous buy recommendation on Disney shares to hold on Monday.
Right now, he wants to sell shares for $95 a share. The reason behind his action was not immediately apparent. It happens less than a week after Disney released its fiscal third-quarter earnings, which didn’t significantly affect the stock price despite some noteworthy highlights, such the profitability of its Disney+ streaming service and two strong beats.
