Stock Idea Disney over Netflix – “Marvel over Squid Game” | FSMOne SG - Research Highlights

Stock Idea

Disney over Netflix – “Marvel over Squid Game”

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• Disney has two key divisions – Media & Entertainment, and Parks, Experiences & Products, with revenue contributions of 67% and 33% respectively.

• The media industry has seen changes over the past decade, with streaming as the new game-changer where Netflix and Disney are the two biggest contenders (excluding China).

• Although we think that the streaming industry can accommodate both players, we prefer Disney because of its brand and content strength, and attractive growth ahead.

• Applying a sum-of-the-parts valuation methodology, we arrive at a target price of USD 201. This gives investors an attractive upside potential of 65% at the closing price of USD 121.6 as of 22 April 2022.

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: The Walt Disney Company (NYSE: DIS)