Shares of Walt Disney Co.
DIS,
+5.65%

surged 5.4% to pace all of the Dow Jones Industrial Average’s
DJIA,
+2.24%

premarket gainers Thursday, in the wake of the media and theme park operator’s announcement that paid subscribers for its Disney+ streaming service surpassed 50 million. The stock’s implied price gain would add about 37 points to the Dow’s price, while Dow futures
YM00,
+2.28%

were recently down 14 points. J.P. Morgan analyst Alexia Quadrani reiterated her overweight rating and $140 stock price target, saying she was “impressed” by the surprise announcement of Disney+ subscribers, and that it’s clear that information was provided as analysts have been lowering estimates across other areas of Disney’s business. “We view Disney+ as a core driver to the company’s extensive ecosystem of consumer touchpoints, which we believe will benefit the Parks and Studio once normal operations resume,” Quadrani wrote in a note to clients. The stock has dropped 30.1% year to date through Wednesday, while the Dow has declined 17.9%.