BMO Capital analyst Daniel Salmon downgraded Disney (DIS) to Market Perform from Outperform with a price target of $185, up from $165. Improved vaccination rates could help Disney continue to be a solid “reopening” play, Salmon tells investors in a research note titled “Now The Hard Part Begins.” However, with the recent multiple expansion for the initial vaccine news and Thursday’s direct-to-consumer investor day, stepping to the sidelines is more appropriate, says the analyst. Netflix retakes Salmon’s “Top Pick mantle,” followed by Alphabet (GOOG) and Amazon.com (AMZN) in the large cap media space. The analyst says that even though Disney’s streaming subscriber forecasts “surpassed the most bullish expectations,” his favorite “story” stock closes out.