Daniel Salmon, an analyst at BMO Capital, downgraded Walt Disney Co. to "underperform" from "market perform" opining that the risk/reward balance is tilted downward as the recent stock performance and investor sentiment has come too early, TheFly.com reported Jan. 18.

Salmon took the action based on other factors as well, including a possibility of CEO Bob Iger getting replaced, more expected negative data points for ESPN (US) and consensus Studio estimates that may be too high in his opinion.

The analyst lowered his price target on company stock to $88 from $90.