A recent acquisition for the portfolio is Disney. Like its peers, DIS US has had a tough 12 months with the share price more than halving, we think a recovery is around the corner.
- Buying quality companies with big and profitable global footprints after tough periods is a strategy that more often than not pays dividends, and Disney is a stock that we have a high level of conviction on from around US$100.
- If the macro headwinds subside as we believe they will and Disney delivers operationally when it reports in November, the share price should rally very strongly.
MM is high conviction on DIS US
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