Bernstein maintains Outperform rating on Disney citing steady growth outlook

Bernstein SocGen Group has reiterated its Outperform rating and $129 price target for Walt Disney stock, citing the company's steady growth outlook. Disney's shares currently trade at $104, with a market capitalization of $179.35 billion and a P/E ratio of 21.48. According to InvestingPro analysis, the stock appears undervalued at current levels.

The firm expects Disney to achieve double-digit earnings per share growth through fiscal years 2026 and 2027. Bernstein describes Disney as a value play, emphasizing its role as a slower-growth but steady compounder rather than a company with reaccelerating growth. The research firm notes that Disney management is shifting its focus toward measured growth and optimizing its cost structure to fund future investments.

Recent management actions have increased confidence in Disney's growth trajectory, though they are not enough to materially alter earnings estimates. Bernstein highlights that Disney has raised its dividend for three consecutive years and remains profitable over the last twelve months.

Other investment firms have also weighed in on Disney's financial outlook. Goldman Sachs maintained a Buy rating with a price target of $140, projecting fourth-quarter fiscal 2026 earnings per share at $1.73. Raymond James reiterated an Outperform rating but reduced its price target to $119, citing challenges in international parks, particularly in Asia. Guggenheim and Benchmark also maintained Buy ratings with price targets of $120 and $115, respectively.