The Hollywood giant hit 137.7 million paid subscribers but has to keep up the momentum to meet its own 230 million to 260 million target by 2024 — and have Disney+ be break even at that point.
Bank of America’s Jessica Reif Ehrlich noted in a report entitled “A Multiverse of Moving Parts”: “Disney’s fiscal second-quarter results were largely positive although management commentary on second-half Disney+ net adds are likely to be a key concern among investors. While Disney+ net adds of 7.9 million beat our 5 million forecast, management indicated second-half net adds will not be significantly higher than in the first half.
While reiterating her “buy” rating, she lowered her price target from $191 to $140, which she noted is 23 times her 2023
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