“Our favorite names to own are Disney (earnings per share upside on direct-to-consumer and clarity on ESPN), Spotify (still a margin/free cash flow story) and Netflix and Universal Music Group (overall quality despite high valuations),” he noted. “But, causes have effects: This may be a consolidation year.” His takeaway: “We prefer larger-scale companies, with Disney still our top idea on self-help risk/reward.” He has an “overweight” rating and $115 stock price target on the Mouse House.Ĭahall is also positive on select additional entertainment stocks, while being bearish on others.

“We expect challenging trends, including advertising, cord-cutting and profitability to persist into ’24,” he wrote. 20 report titled “The 2024 Oracle,” Cahall didn’t sound too bullish looking ahead. Here is The Hollywood Reporter’s look at some stocks that media and entertainment analysts have started naming as their top picks for 2024. So where do analysts recommend putting money in the new year? Instead of touting big Hollywood stocks, many are pointing to opportunities elsewhere. Producers Launch Indie Financing Fund Heatseeker Media (Exclusive)

Gamemaker studio 1.4 licenses