Down almost 40% from its ATH, Disney appears to be quite discounted at the moment, even with the last month's rise. With the company on track to report solid earnings for the next several quarters, it is very likely that the stock will continue to appreciate.
Disney continues to surprise the market and exceed Wall Street’s expectations
With the passage of the Inflation Reduction Act by Congress, and its forthcoming signing into law by the president, the federal government is set to provide around $369 billion to speed up the adoption of fossil fuel alternatives. Yet while shares have moved higher in response to this development, further long-term upside may remain.
Oppenheimer's Colin Rusch also kept his rating at outperform and his stock price target at $63, which implies a more than doubling from current levels.
Plug Power sees Inflation Reduction Act creating a 'boom' in its green hydrogen business, and stock soars