Wells Fargo & Company has revised its price target for Walt Disney (DIS) shares to $146 from $148, following the company's stronger-than-expected fiscal second-quarter earnings report.

The firm maintained an Overweight rating on the stock, signaling continued confidence in Disney's growth trajectory.

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Positive Outlook Driven by New Management Phase

According to Wells Fargo analysts, the positive market sentiment stems from a new management phase focused on extracting more value from existing operational assets.

They highlighted accelerating improvements across content distribution and direct-to-consumer digital operations.

Sustained momentum within the Parks division continues to underpin broader corporate earnings growth.

Wells Fargo projects over 30% upside potential for Disney shares within the next year.

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Raymond James Also Raises Price Target

Concurrently, Raymond James adjusted its financial outlook on May 7 by raising its price target on Disney shares to $119 from $115.

The firm maintained its Outperform rating, noting that the media conglomerate increased its fiscal 2026 earnings per share growth forecast to 12%.

According to the analyst, the financial performance strengthens market confidence that Disney can achieve double-digit compound annual growth for earnings per share through fiscal 2026 and fiscal 2027.

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Multiple factors bolster this projection, including a massive streaming infrastructure, stable sports exposure, a robust franchise catalog, and consistent cash generation from the Parks and Experiences segment.

The analytical note further specified that streaming services represent an expanding share of operating income growth, even though the Experiences division remains the primary profit driver.

Investor attention is increasingly shifting toward the second half of fiscal 2026 as macroeconomic anxieties begin to moderate.

The earnings report, released on May 8, showed stronger-than-expected fiscal second-quarter results, prompting the analyst revisions.

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Disney's stock performance and future outlook remain closely watched by investors as the company navigates its transformation phase.