A full breakdown of the value of each of Disney’s businesses before and after the coronavirus, according to Wells Fargo analysts (DIS)
- Wells Fargo analysts are valuing Disney’s businesses at 26% less than they were before the coronavirus outbreak, according to a new report.
- The firm, which had been bullish on Disney’s streaming efforts, said in an April 7 report that it didn’t anticipate the “severe downturn” for Disney’s parks business that was caused by the coronavirus outbreak.
- Wells Fargo is now expecting Disney’s parks to remain empty for the rest of the company’s fiscal year, ending in September, and be filled to half capacity to limit crowding next fiscal year.
- “Until the time at which there is significantly improved testing and/or a widely available vaccine it’s tough for us to imagine long lines for ‘Rise of the Resistance,’ no matter how much folks might want to go to [Walt Disney World] deep down,” the note said.
- See how Wells Fargo is valuing each of Disney’s businesses below.
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Analysts at Wells Fargo are valuing Disney’s businesses at 26% less than they were before the coronavirus outbreak, according to a new report.
The firm, which said it had been bullish on Disney since the media company unveiled its streaming strategy in 2017, said in an April 7 report …continued .
[Source: Business Insider]