"KeyBanc Downgrades Disney Stock Amidst Uncertainty and Doubts"

KeyBanc Capital Markets analyst Brandon Nispel downgraded Disney stock to Sector Weight from Overweight, citing "meaningful uncertainty" and highlighting concerns about stalling direct-to-consumer subscriber growth, sagging Disney content sales, challenges in moving ESPN to streaming, and high expectations for domestic park attendance. Nispel also expects further losses from Disney+ and Hulu amid increasing competition. The downgrade comes after Disney reported a decline in Disney+ subscribers and weak theme park attendance data.