Disney up as Jefferies upgrades to 'buy' on cruise growth, limited parks risk

Shares of media company Walt Disney DIS.N rise 1.6% to $124.35 premarket

Jefferies upgrades stock rating to "buy" from "hold" on stronger theme parks, cruise business, among others

Brokerage raises DIS PT to $144 from $100, representing an upside of ~18% to stock's last close

Says it now sees limited risk of Disney's Parks slowdown in second half of this year from NBCUniversal's CMCSA.O Epic Universe theme park and economic uncertainty

Jefferies is more optimistic about company's cruise business in fiscal 2026, estimating it could add over $1 bln in revenue

DIS content slate favorable for next six months, including the ESPN streaming launch and movie releases like Zootopia 2 and Avatar 3 - brokerage

Brokerage says DIS strategy of increasingly focusing on bundling, studio releases and sports is paying off

Average rating of 34 brokerages covering DIS is "buy" and their median PT is $128.00 - LSEG-compiled data

As of last close, stock up ~10% this year