Cowen analyst Doug Creutz has downgraded his rating on Walt Disney's stock from "outperform" to "market perform" after cutting his financialestimates and price target due to what he now expects to be a "longer impact on parks and film" from the novel coronavirus pandemic.
Reducing his stock price target from $101 to $97, Creutz wrote on Thursday:"With the spread of COVID-19 having accelerated in the U.S., we expect a prolonged impact." And he noted that Florida and California, the homes of Disney's two U.S.
theme parks, Disneyland and Walt Disney World, have been "particularly impacted" andaccount for roughly 33 percent of new U.S.