Yahoo Finance confirmed Peltz will seek multiple board seats, including one for himself, after his hedge fund Trian Fund Management boosted its stake in the company, which is now valued at a reported $2.5 billion for more than 30 million shares. The news was first reported by"It puts a lot of pressure ," Needham analyst Laura Martin told Yahoo Finance Live on Monday.
Martin said she's not sure if Peltz will ultimately need board seats "or just has to threaten a war" given his massive stake in the company. Macquarie analyst Tim Nollen, who has a Neutral rating on the stock and $94 price target, said Disney's future hinges on two near-term catalysts: direct-to-consumer and ESPN.
He's not alone. Bernstein analyst Laurent Yoon initiated coverage on Disney last week with an Outperform rating and $103 price target, citing bullishness surrounding Disney's DTC transition, in addition to "Nelson Peltz just wants to shake things up and move things faster. I don't know if that can be done," he continued. "It's not like Disney is being complacent by any means. It just is big and complex. And there's a lot they have to work through to get there."
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