Richard Greenfield of Pali Research downgraded Disney shares to sell last month, citing a poor outlook for Up as a reason. We doubt younger boys will be that excited by the main character, he wrote, adding a complaint about the lack of a female lead.
Mr. Greenfield is alone in his vociferousness, but not in his opinion.
People seem to be concerned about this one, said Chris Marangi, who follows Disney at Gabelli & Company. Doug Creutz of Cowen and Company said qualms ran deeper than whether Up will be a hit he thinks it will but rather whether Pixar can deliver the kind of megahit it once did.
The worries keep coming despite Pixars track record, because each film it delivers seems to be less commercial than the last, Mr. Creutz said.