RBC Capital provided their outlook on The Walt Disney Company (NYSE:DIS), mentioning they remain bullish and believe the recent stock sell-off is overdone.

Nonetheless, the analysts acknowledge that shares might be range bound until: (1) Disney+ net adds re-accelerate (likely closer to summer/fall 2022), and (2) the Parks segment demonstrates early proof points to support the bull thesis related to an improved post-pandemic revenue and margin profile (likely closer to 2023).