Cowen analyst Doug Creutz on Monday cut his earnings estimates for the entertainment giants he covers, including the Walt Disney Co. and ViacomCBS, through 2022 due to the new coronavirus, an expected recession and their longer-term fallout and lowered his stock price targets. “We are lowering estimates and price targets across the board for our media companies today to reflect the impact of heavy social-distancing measures and the impact of the resulting recession that we expect,” he wrote.
Source: Entertainment Analyst Cuts Earnings Estimates Through 2022 Amid Virus Crisis