Media Stock Picks for 2023 From Wall Street Analysts – The Hollywood Reporter
, 2022-12-29 08:44:27,
Many entertainment industry CEOs and investors may want to quickly forget about 2022, given the way it decimated several media stocks.
However, 2023 doesn’t look like it will bring much relief anytime soon. After all, recessionary fears and their impact on advertising revenue, a recent acceleration in cable cuts, and concerns about the profitability of Hollywood companies’ streaming businesses are among the dark clouds hanging over the world. about the industry.
With that in mind, the hollywood reporter is taking stock of some media and entertainment analysts’ picks for the coming year.
michael nathansonMoffett Nathanson
Selections: walt disneyFox
Why: The veteran entertainment industry analyst has “outperform” ratings on both companies. Nathanson upgraded Disney from “market performance” in late November and raised his share price target by $20 to $120, citing the return of Bob Iger as chief executive. “The magic has returned”, summed up his call in the title of his report. “We applaud the Disney board for the courage to make this change,” the expert explained. “We have never hidden our affection for Mr. Iger and the work he did to build Disney into the global power he has become. We have not recommended the stock since May 2020 for multiple reasons, including concerns that former CEO Bob Chapek has wedded a streaming strategy that made no sense given current reality.”
For Fox, in which Nathanson has a share price of $46…
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