The Number of Guests at Disney’s (NYSE:DIS) U.S. Theme Parks declined from around 87 million in 2019 to about 46 million in 2020. Trefis expects the number to rise to about 47 million in 2021 and recover further to about 59 million by 2022.
While the sharp decline over 2020 was due to the Covid-19 pandemic, we expect the number of visitors to rise going forward as vaccination rates improve.
We don’t think the project recovery is priced into Disney stock yet. We value DIS at about $205 per share, about 40% ahead of the current market price.
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|S&P 500 Return||0%||23%||106%|
|Trefis MS Portfolio Return||0%||44%||292%|
 Month-to-date and year-to-date as of 12/2/2021
 Cumulative total returns since 2017