Despite recognising that Disney parks are still 80 per cent down in attendances around the world, Germany’s Deutsche Bank has given the company the thumbs up for a fast recovery.
The bank’s analyst Brian Kraft has gone on record as suggesting that as the pandemic infection rate falls in Florida, the fortunes of Disney will rise soon and he has upgraded the group’s shares from "hold" to ‘"buy".
Most of the improvement, he believes will come from the movie business and Disney’s streaming service to subscribers.
The theme parks, however, will take longer to recover, although it has reopened its parks outside of the US except for Hong Kong that was closed again in July.
The parks side of the business will probably take until 2023 to get back to pre-Covid days, the analyst suggested.