JPMorgan analyst Alexia Quadrani lowered her price target for Disney shares to $120 from $124 but calls the stock "extremely attractive" at current levels. Concern over ESPN subscriber losses is being exaggerated, Quadrani tells investors in a research note. Disney's Cable Networks operating income is likely to grow in the mid-single-digit range through fiscal year 2020 with broadly stable margins, the analyst contends. She keeps an Overweight rating on Disney.
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