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Berger: Disney
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Serge Berger is looking at a near-term trade in Disney. Although the entertainment giant reported better than expected earnings, there are concerns in the market about the performance of the ESPN sports network; owned by Disney. Sustaining advertising revenue has been questioned because of a lack of user growth and that view comes amid a general selloff in media companies.
So Serge plans a short-term trade.
Disney was up around 30% before earnings but is now up around 17% and Serge is looking for an over-sold bounce.
Buy: USD 109.00
Stop: USD 107.00
Target: USD 113.50