{"id":150439,"date":"2021-01-09T02:03:49","date_gmt":"2021-01-08T23:03:49","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/we-were-wrong-analyst-upgrades-streaming-focused-disney\/"},"modified":"2021-01-09T02:03:49","modified_gmt":"2021-01-08T23:03:49","slug":"we-were-wrong-analyst-upgrades-streaming-focused-disney","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/we-were-wrong-analyst-upgrades-streaming-focused-disney\/","title":{"rendered":"#\u2018We were wrong\u2019: Analyst upgrades streaming-focused Disney"},"content":{"rendered":"

“#\u2018We were wrong\u2019: Analyst upgrades streaming-focused Disney<\/strong>”
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Noted media<\/a> analyst Rich Greenfield just issued a mea culpa on Disney\u2019s ability to navigate the pandemic. <\/p>\n

Greenfield\u2019s LightShed Partners upgraded the Mouse House on Friday to \u2018neutral\u2019 after slapp<\/a>ing a \u2018sell\u2019 rating on it in May.<\/p>\n

\u201cOur call has been dead wrong,\u201d Greenfield said, explaining that his firm was \u201cfocused on how the market under-appreciated the impact of COVID-19\u201d on fiscal 2020-2021 earnings. <\/p>\n

Disney has been crushed by the coronavirus, as stay-at-home orders caused the company to temporarily shutter cruise lines and theme parks, such as Disneyland in California or reopen others, like Disney World in Orlando at limited capacity. <\/p>\n

The owner of movie studios such as Pixar, Marvel and Walt Disney Studios also had to halt the production or push the releases of the majority of its biggest films into 2021 and beyond. <\/p>\n

Despite those hurdles, Disney redoubled its streaming efforts and reorganized its entertainment operations to focus on Disney+. The course correction was applauded by Wall Street, which \u201clooked past COVID,\u201d and to a \u201cnormal\u201d world, Greenfield said, adding that \u201ceven 25 years into our analyst career, the market is still teaching us new lessons.\u201d\u00a0<\/p>\n

The stock, which ended 2020 up more than 20 percent, closed flat on Friday at $178.69 a share. <\/p>\n

Even though Disney\u2019s earnings \u201chave evaporated\u201d with the company reporting \u201ctwo of the worst quarters in the company\u2019s history,\u201d investors \u201crightly began to look beyond the near-term for this company and others, instead focusing on the post-COVID world, especially as it became clear vaccines were on the way,\u201d the analyst said. <\/p>\n

Greenfield added that he misjudged new chief executive officer Bob Chapek, who took the reins from legendary CEO Bob Iger in February, as not understanding the importance of streaming. Chapek, who ran the company\u2019s important theme parks division, beat out streaming boss Kevin Mayer for the top job, which caused the LightShed analyst to doubt whether Disney understood the importance of streaming to its future. <\/p>\n

But the pandemic quickly sharpened the importance of Disney+ as a way for the company to still make money while movie theaters remained closed. The quick pivot by Disney, which has put new content like \u201cHamilton,\u201d the live-action remake of \u201cMulan\u201d and \u201cSoul\u201d on its streaming service during the pandemic, has helped it amass over 90 million subscribers by the end of 2020 \u2014 an impressive feat for the year-old streaming service. <\/p>\n

\u201cChapek surprised us,\u201d Greenfield said, noting that the company is \u201cleaning far harder into streaming\u201d than expected and that it \u201cnow feels like we will see more theatrical releases appear day-and-date on Disney+.\u201d\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#\u2018We were wrong\u2019: Analyst upgrades streaming-focused Disney” Noted media analyst Rich Greenfield just issued a mea culpa on Disney\u2019s ability to navigate the pandemic. Greenfield\u2019s LightShed Partners upgraded the Mouse House on Friday to \u2018neutral\u2019 after slapping a \u2018sell\u2019 rating on it in May. \u201cOur call has been dead wrong,\u201d Greenfield said, explaining that his…<\/p>\n","protected":false},"author":1,"featured_media":150440,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/01\/analysts-upgrade-disney-outlook.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[88806,87361,1545,1569,72387,1372],"class_list":["post-150439","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-1-8-21","tag-bob-chapek","tag-coronavirus","tag-disney","tag-stock-analysts","tag-streaming"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/150439","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=150439"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/150439\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/150440"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=150439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=150439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=150439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}