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Disney has offered to pay Comcast $8.6 billion to take full control of Hulu. Disney is already in the process of rolling out a unified app that'll make Hulu's general entertainment content available in Disney+ . "With Hulu firmly in the Disney fold, they can create their own mini-bundle with kids and family (Disney +), general entertainment (Hulu), and sports (ESPN). The valuation also has to take into account that Hulu contains an entire Disney basic cable network, FX on Hulu. Netflix is set to spend $17 billion on entertainment content in 2024, while Disney is poised to spend $15 billion.
Persons: Bob Iger's, , Bob Iger, Hulu —, what's, Comcast's NBCUniversal, pare, he's, Jonathan Miller, Brian Roberts, there's, Bernstein, Laurent Yoon, Read, Jordan Helman, Max, Puck, Disney, Bernstein's Yoon Organizations: Disney, Comcast, Hulu, Service, YouTube, News, Century Fox, Marvel, Netflix, Integrated Media, ESPN, ABC, LightShed Partners, Warner Bros, Wall, Paramount Global, Paramount, Showtime, HBO Max, Macquarie Equity Research, Media, Disney Disney, Hollywood Locations: Disney, Hulu, Canada, India, Hollywood
Netflix 's better-than-expected quarterly earnings has analysts cheering the company's new subscriber growth initiatives, keeping them optimistic on the stock's growth potential. Yoon increased his price target to $390 from $375, implying 12.6% upside potential from Wednesday's close. Shares already rallied more than 13% Thursday during premarket trading, surpassing his price target. Anmuth raised his price target to $480 from $455, implying shares could jump 38.6% from Wednesday's close. UBS, Citi and Evercore all reiterated their price targets of $500 on shares, while Bank of America kept its $525 target price.
Persons: Bernstein, Laurent Yoon, Yoon, Goldman Sachs, Eric Sheridan, Doug Anmuth, Anmuth, Brian Kraft, Kraft, John Hodulik, Hodulik, Jessica Reif Ehrlich, Mark Mahaney, Mahaney, , Michael Bloom Organizations: Netflix, ARM, JPMorgan, Deutsche, Bloomberg, UBS, Citi, Bank of America, of America, Global, Revenue Locations: U.S, Wednesday's
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBernstein's Laurent Yoon explains why Disney is an attractive investmentLaurent Yoon, analyst at Bernstein, joins 'The Exchange' to discuss Nelson Peltz reigniting his proxy war with Disney, Disney's stake in Hulu and its DTC offerings, and the strength of Disney's parks component.
Persons: Laurent Yoon, Bernstein, Nelson Peltz Organizations: Disney Locations: Hulu
Disney 's planned buyout of Hulu will offset any near-term troubles and benefit the company long term, according to Bernstein. Analyst Laurent Yoon's price target of $103 implies a potential 27% gain from Thursday's close. "We forecast DTC growth to outpace Linear decline, supporting overall growth of Media, with DTC revenue surpassing Linear revenue in 2024, and Disney becoming the undisputed #2 subscription video on demand." Yoon added that besides Disney's status as the "only credible challenger to Netflix," the company's parks business provides an additional strong revenue stream. DIS YTD mountain Disney YTD chart — CNBC's Michael Bloom contributed to this report.
Persons: Bernstein, Laurent, Yoon, Bob Iger, Michael Bloom Organizations: Disney, Hulu, Media, Netflix, Comcast, CNBC Locations: Thursday's
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