Disney appoints a new (old) CEO

Article Excerpt

WALT DISNEY CO., $94.15, is a buy. The company (New York symbol DIS; TSINetwork Rating: Above Average) (www.disney.com; Shares o/s: 1.8 billion; Market cap: $172.7 billion; No dividend) has replaced its chief executive Bob Chapek with Robert Iger, the former chairman and CEO who left the company at the end of last year. Iger now plans to serve as CEO for two years. The appointment came as the company attracted criticism, including from activist investor Dan Loeb. All in all, activist involvement points to Disney’s underlying value, and the demands of activists will likely result in positive changes—on top of Bob Iger’s return to the company. Walt Disney Co. is still a buy. buy…