Yesterday Walt Disney Company (DIS) said that its Disney+ video streaming service would be launched in the Netherlands and Canada on November 12th.
Earlier this month, the company revealed plans to bundle its three streaming services – Disney+, ESPN+ and ad-supported Hulu, for a monthly cost of $12.99. Disney’s Chief Executive Officer Bob Iger said the bundle would be available for US customers when Disney+ is launched on November 12th.
Walt Disney shares closed lower for the ninth time in the past sixteen trading sessions in New York on Tuesday. The stock edged down 0.12% ($0.16) to $135.13, after touching an intraday low at $133.26, or a price level not seen since August 15th ($132.47).
Shares of Walt Disney Company have risen 23.24% so far in 2019 compared with a 15.70% gain for the benchmark index, S&P 500 (SPX).
In 2018, Walt Disney’s stock went up 1.99%, thus, it again outperformed the S&P 500, which registered a 6.24% loss.
Disneys video streaming service will also be launched in Australia and New Zealand later in November. The companys offering is to cost between $6 and $8 per month in that region, Walt Disney said.
Disney+ will be available on the majority of leading mobile and connected TV devices platforms such as Microsoft, Google, Apple, Sony and Roku.
The new service will exclusively feature Walt Disney’s latest titles – “Aladdin”, “Avengers: Endgame” and “Star Wars: The Rise of Skywalker”. Disney+ is also expected to offer a vast catalog of Walt Disneys existing films.
Analyst stock price forecast and recommendation
According to CNN Money, the 20 analysts, offering 12-month forecasts regarding Walt Disney’s stock price, have a median target of $155.00, with a high estimate of $174.00 and a low estimate of $133.00. The median estimate represents a 14.70% upside compared to the closing price of $135.13 on August 20th.
The same media also reported that at least 18 out of 24 surveyed investment analysts had rated Walt Disney’s stock as “Buy”, while 6 – as “Hold”.