Disney stock price is trading in a negative territory year to date as its park business has been hit hardest by the pandemic related lockdowns and social distancing policies. The shares of the largest entertainment company are down almost 10% year to date.

The majority of market analysts are seeing the dip in Disney stock price as a buying opportunity for both short and long-term investors.

For instance, Credit Suisse has provided a price target of $146 with outperform ratings. The firm is showing confidence in its streaming business.

“Disney is now “even more aggressively positioned as a streaming growth story (where investors have limited investment vehicles), and eventual COVID recovery play,” and while it will continue to feel the pandemic impact for some time, there’s better visibility now,” the firm said.

DIS The Walt Disney Company daily Stock Chart

Guggenheim has provided a price target of $140 and Citi expects Disney stock price to trade around $145 in the short-term. Disney stock price is currently trading at around $130.

Disney has also generated quarterly profit despite lockdowns and social distancing policies during the second quarter. Its second-quarter revenue of $11.78bn declined almost 41% from the year-ago period. The quarterly profit of $0.08 per share topped analyst’s expectations by $0.75 per share.

“Despite the ongoing challenges of the pandemic, we’ve continued to build on the incredible success of Disney+ as we grow our global direct-to-consumer businesses,” said Bob Chapek, Chief Executive Officer, The Walt Disney Company.

“The global reach of our full portfolio of direct-to-consumer services now exceeds an astounding 100 million paid subscriptions — a significant milestone and a reaffirmation of our DTC strategy, which we view as key to the future growth of our company,” Bob added.

Disney Plus has generated 57.75M subscribers during the second quarter compared to 33.5M in the same period last year. ESPN Plus subscribers came in at 8.5M related to 7.9M in the past year period.