What a comeback for tech stocks! The Nasdaq gained 3.69% in yesterday’s session, posting its best day since November as investors poured back into popular growth names. The Dow and the S&P 500 also gained in yesterday’s session, 1.4% and a modest 0.1% respectively. Stocks were flat in early trading this morning with the Nasdaq slightly lower.
Our trade alert for today highlights one stock that analysts are calling a Buy now.
Disney (DIS) stock got a boost last Friday night after California will allow theme parks to reopen somewhat from April 1. However Disneyland is in Orange County, which currently has too many coronavirus cases under the state’s reopening guidelines.
Disney earnings have been badly hit by the coronavirus pandemic, but this will improve as economies get back on their feet following broad lockdowns. As coronavirus vaccinations pick up and the pandemic fades, Disney should see better revenue from theme parks and movies.
Wall Street is expecting full year earnings to fall 7% in 2021, before ramping up to 157% growth in 2022.
The Dow Jones giant showed it is bouncing back after crushing fiscal first-quarter estimates. The surprise profit came as the number of streaming subscribers jumped. Disney recently announced that its flagship streaming platform has surpassed 100 million users, just 16 months after its launch, quickly establishing the service as Netflix’s biggest competitor. During the pandemic, the streaming service has been a bright spot for Disney stock, and big plans are ahead.
At an investor day on Dec. 11, management said there are more than 100 titles in the works for Disney+. And Disney CEO Bob Chapek said the company expects to have 230 million to 260 million Disney+ subscribers by 2024. That’s up from its prior estimate of 60 million to 90 million for the same time frame. DIS share price slid nearly 4% in yesterday’s session, offering an attractive entry into the stock. Of 29 analysts offering recommendations for DIS stock, 21 rate the stock a Buy, that’s up from 15 just three months ago. There are also 7 Hold ratings and 1 Sell rating for DIS stock.
Where to invest $1,000 right now...
Before you consider buying Disney, you'll want to see this.
Investing legend, Keith Kohl just revealed his #1 stock for 2022...
And it's not Disney.
Jeff Bezos, Peter Thiel, and the Rockefellers are betting a colossal nine figures on this tiny company that trades publicly for $5.
Keith say’s he thinks investors will be able to turn a small $50 stake into $150,000.
Find that to be extraordinary?
Click here to watch his presentation, and decide for yourself...
But you have to act now, because a catalyst coming in a few weeks is set to take this company mainstream... And by then, it could be too late.
Click here to find out the name and ticker of Keith's #1 pick...
