Walt Disney Co (NYSE: DIS) was named a top pick for the second half of the year by Morgan Stanley. The firm expects Disney to benefit from seasonality, new market launches and an improved content offering.
Disney's stock has come back down to where it was before the company reported its blowout quarter last week, Jim Cramer said Wednesday on CNBC's "Fast Money Halftime Report."
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Disney reported adjusted quarterly earnings of 80 cents per share, which beat the estimate of 56 cents per share. The company reported quarterly revenue of $17.02 billion, which beat the estimate of $16.8 billion.
Disney announced that revenue from its parks, experiences and products was up more than 100% year over year. If there is a prolonged period of COVID-19 variant concerns, Disney has its Disney+ platform to rely on, Cramer said.
Disney is "the greatest story ever told," he said. "You're getting it [back] at $175 with that great quarter [like] no one even cares."
Price Action: Disney has traded as high as $203.02 and as low as $117.23 over a 52-week period.
The stock closed down 0.6% at $174.74.
Photo: qin linlin from Flickr.
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