The wide-moat firm is preparing for its transformational leap into direct to consumer with the launch of Disney+ in November.
We are retaining our narrow moat rating and our fair value estimate of $135.
Management is calling this a transition year, and we are lowering our fair value estimate.
We are maintaining our wide moat rating but are raising our fair value estimate.
The wide-moat firm is putting the focus on Fox media assets and direct-to-consumer efforts.