"Barclays Upgrades Disney Stock Amid Turnaround Success"

Barclays analyst upgraded Disney stock to Overweight from Equal Weight, citing better-than-expected free cash flow and earnings guidance, along with "tactical tailwinds" such as Hollywood strikes, Hulu's consolidation, and cost cuts. The stock has outperformed broader markets this year, rising over 30%, and the analyst believes Disney's next phase may be more impactful, with potential streaming profitability and other narrative surprises. However, challenges such as declining non-sports TV viewership and slow subscriber growth in streaming could pose risks.