Benchmark Sticks with Buy Rating on Walt Disney Despite Mixed Box Office

Benchmark has reaffirmed its Buy rating on Walt Disney stock, maintaining a price target of $115.00.

The decision comes after the company's mixed summer box office performance, with some films performing well while others underperformed.

Disney's summer lineup included The Dog Stars, which opened to $8 million domestically from 3,330 theaters and finished fifth despite a production budget of more than $80 million. The film received a 40% Rotten Tomatoes score and a C+ CinemaScore.

However, the studio also released major successes such as Toy Story 5, which earned $1.12 billion, and The Devil Wears Prada 2, which earned $692 million. Benchmark noted that Disney should have limited concerns given the expected December release of Avengers: Doomsday.