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John Creekmur, chief investment officer at the Illinois-based Creekmur Wealth Advisors, said that Disney is a buying opportunity after it took full control of Hulu . Shares of the entertainment giant were up more than 2% on Tuesday after Disney agreed to pay Comcast $438.7 million for its stake in Hulu. The move has been in the works for a few years, with Disney announcing in 2023 that it planned to buy Comcast’s 33% stake in Hulu. Creekmur appeared on “Three-Stock Lunch” Tuesday, sharing his takes on Disney, Taiwan Semiconductor and J.M. Smucker. Walt Disney Company Disney’s acquisition of Hulu is a “strong move” that only makes the media conglomerate more attractive, the investor said. The investor, who noted Hulu is the most profitable of Disney’s three subscription services, said he sees a price target of $133 for the stock. That implies upside of 12% from Tuesday’s close. “We love Disney right now,” Creekmur said. Taiwan Semiconductor The Taiwanese chip company could be due for a bit of a pullback after a big June rally. Shares are up nearly 10% this month amid a broader advance in chip stocks. The stock was up more than 2% Tuesday, after the company reported a boost in May revenue . “The price got a little bit ahead, especially with the huge announcement today,” the investor said. “We’re looking for a little pullback. So we’re on a hold right now. A pullback to that $192 to $195 range, then we’re looking at acquiring pretty aggressively at that point. And then we do see strong momentum all the way to $240.” The stock closed Tuesday at $212.46, and a decline to $192 suggests downside of more than 9%. A rebound from that level to $240 would represent 25% upside. J.M. Smucker J.M. Smucker ‘s disappointing quarterly revenue is another reason to stay away from the stock, the investor said. “We have kind of been sour on Smucker ever since the middle of last year,” he said. “And we knew, with inflation going up, the cost of their inputs, and also the cost of labor increasing so drastically, their pricing is very inelastic, which is squeezing margins.” “We’d stay away from Smuckers right now,” he added. Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.
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