As Disney prepares to report earnings Wednesday, major analysts fear further disappointment is in store for investors as streaming subscriber estimates remain too high and need to come down. The entertainment giant has said it plans for its Disney+ streaming service to have between 230 million and 260 million subscribers by the end of 2024. But the achievability of that goal has come into question as the stock has plummeted 28% this year and more than 40% from its highs — as fears of a mounting recession grow, competition booms and worries of a slowdown in consumer spending rock the industry. Amid this backdrop, RBC Capital Markets’ Kutgun Maral expects a strong quarter for Disney across direct-to-consumer, saying in a note to clients that the company remains a top pick. However, investors should brace for downside to Disney’s streaming outlook if they haven’t already. “That said,…
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