Here's Why Citi Remains Bullish On Disney Despite Slashing Price Target By 5%

Citi analyst Jason Bazinet lowered the firm's price target on The Walt Disney Co (NYSE:DIS) to $200 from $210 and reiterated a Buy rating on the shares. The price target implies an upside of 30%.
Related Content: Here's Why Barron's Is Bullish On Disney Post Q1
The company posted strong fiscal Q1 results driven by better than expected net streaming additions and strength in Domestic Parks, Bazinet notes.
The price target drop reflects the recent compression in subscription-based valuations.
Price Action: DIS shares traded lower by 2% at $153.22 on the last check Thursday.