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Investment bank Morgan Stanley resumed its research coverage of The Walt Disney Company on Monday, issuing an 'Overweight' rating and a $125 price target for the media giant’s shares. Analysts led by Benjamin Swinburne reinstated the rating in New York following a period of restriction, citing a positive outlook on the company’s ability to drive earnings growth through its diverse portfolio of theme parks, streaming services, and traditional media assets. The move signals a robust vote of confidence in CEO Bob Iger’s ongoing restructuring efforts and the company's long-term financial trajectory. The 'Overweight' designation implies that Morgan Stanley expects Disney's stock to outperform the average total return of the stocks in the analysts' coverage universe over the next 12 to 18 months. The $125 price target suggests a significant upside from current trading levels, reflecting optimism regarding the profitability of Disney's direct-to-consumer (DTC) segment. This segment, which includes Disney+, has recently reached a turning point in profitability, moving away from the heavy loss-making phase that characterized the early years of its expansion. In addition to the success of its streaming platforms, analysts pointed to the resilience of Disney’s Experiences division, which encompasses its global theme parks and cruise lines. Despite broader economic uncertainties, demand for high-end travel and immersive entertainment remains a primary driver of the company’s free cash flow. Morgan Stanley’s report also highlighted the strategic necessity of Disney’s content pipeline, noting that the consistent performance of the studio division is essential for feeding both the streaming ecosystem and the licensing revenue streams. Furthermore, the financial institution addressed Wall Street's concerns regarding the decline of linear television. While traditional cable networks face secular headwinds, Morgan Stanley believes Disney is better positioned than its peers to manage this transition by migrating its premier sports content, specifically ESPN, to a standalone digital offering. This strategic pivot is expected to stabilize revenue and provide a more predictable growth model as the media landscape continues to evolve toward digital consumption.