Citigroup Downgrades Disney’s Stock To Sell
(News | Source: Euro 2 Day)
Citigroup has downgraded Disney’s stock to sell fearing that traffic to the theme parks may weaken due to slowing consumer spending. Citigroup said the probability of hotel room sell-out at Walt Disney World has fallen and that Disney appears to be dropping last-minute prices and forward booking prices. They also lowered their price target on Disney shares to $26, down from $36.
