Disney shares fell more than 8% in morning trading
Atlantic Equities is cutting Disney to Neutral from Buy in the wake of its earnings, pointing to direct-to-consumer additionsslowing more than expected.It is lowering its price target to $172 from $219 per share, just below the last closing price."Disney's focus on franchises led to excellent sign-up rates out of the gate, but we are increasingly convinced that the penetration of this fan base is close to saturated in launched markets," analyst Hamilton Faber writes in a note."While there are ne