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Bob Iger, CEO, The Walt Disney Company
Scott Mlyn | CNBC
Here are the biggest calls on Wall Street on Tuesday:
Cowen upgraded Chipotle to ‘outperform’ from ‘market perform’
Cowen named Chipotle as a top pick for 2020 and said it was bullish on the company’s digital sales growth.
“We see upside to comps and EPS from digital sales growth, increasing consumer demand for food transparency, and a growing ad budget and loyalty program. Further, we argue the new Chipotlane drive-thru format permissions the brand to grow faster in 2021 and beyond, and provides greater certainty to double the store count to 5,000 ultimate U.S. locations, if not more.”
Read more about this call here.
Consumer Edge initiated Disney as ‘overweight’
Consumer Edge said in its initiation of Disney that the company has “unique” competitive advantages across a large variety of brands and content.
“We believe DIS is now clearly under-earning with big strategic shifts ongoing. We see early signs of traction & the flywheel is working. .. .DIS has unique competitive advantages around brands & content that drive franchise-level unit economics across a wide variety of products and forms of monetization. We also see unique advantages around distribution given the importance of sports rights in the current pay TV bundle, a more portal-oriented approach to ESPN and sports distribution (see the mobile app), and given their strategic positioning with Hulu’s MVPD offering.”
