Despite a mixed fiscal third-quarter report, Wall Street analysts are positive on Disney going forward. The company beat on adjusted earnings, with its park division standing out as a bright spot. The media giant’s issues, however, were evident in Disney’s direct-to-consumer segment — which saw Disney+ subscriptions fall 7.6% to 146.1 million throughout the quarter . A StreetAccount poll had forecasted 151.1 million subscriptions. For their part, many analysts covering the stock still see strong gains ahead for the company. Morgan Stanley’s Benjamin Swinburne maintained an overweight rating with a $105 per share price target, or 20% upside from Wednesday’s close. The analyst highlighted growth at the company’s parks and resorts sector, which will drive both earnings and free cash flow in the future, he said. DIS YTD mountain Disney climbed 1.5% in premarket trading Thursday. “This is a real investment positive as Disney takes meaningful but challenging steps towards improving the earnings power of its Media assets,” Swinburne said. JPMorgan’s Philip Cusick similarly reiterated an overweight rating with a $125 per share price target on Disney, which implied upside of 43%. Despite a tumultuous media market, the analyst said, Disney should be able to navigate headwinds like lower ad sales successfully due to its mixed portfolio of assets. “While we are cautious on the media landscape overall due to streaming losses, linear sub declines, and advertising headwinds, Disney is our favorite name among the group due to the company’s strong asset mix and what we expect to be a rapid decline in streaming losses in the next year,” Cusick said. Goldman Sachs’ Brett Feldman, meanwhile, has a buy rating on Disney stock with a price target of $128 per share, or 46% upside from Wednesday’s close. The analyst said the company showed forward progress on “management’s lengthy to-do list,” including turning a profit within Disney+ as well as finding an adequate partner for ESPN. Bank of America analyst Jessica Reif Ehrlich reiterated a buy rating with a $135 per share price target, and noted confidence in CEO Bob Iger’s ability to lead the company through several key transitions including the launch of ESPN Bet. “Given the latest guidance as well as cost cutting initiatives, we believe consensus forecasts will likely be biased to the upside,” Ehrlich said. “Additional progress toward achieving the company’s broader strategic goals could drive multiple expansion back toward their historical premium levels.” Citi’s Jason Bazinet reiterated a buy rating on Disney stock accompanied by a $125 per share price target. However, the analyst highlighted risks to its base case, noting that the “effects of the COVID-19 pandemic could ultimately disrupt Disney’s DPEP and legacy linear media segments (within DMED) for a longer period of time than we currently expect.” — CNBC’s Michael Bloom contributed to this report.