Disney upgraded to Buy from Neutral at UBS

UBS analyst John Hodulik upgraded Disney (DIS) to Buy from Neutral with a price target of $200, up from $155. Disney is positioned to achieve scale similar to streaming leader Netflix (NFLX) with 340M-plus global subscribers by 2024, Hodulik tells investors in a research note. The analyst believes Disney's "premium" intellectual property creates pricing power and enables the company to spend less per subscriber on content, "driving better economics over time." Further, its Parks business will become a beneficiary of vaccine availability and pent up demand for leisure travel in the second half of 2021, adds Hodulik.