Shares of Walt Disney Co.

surged 5.4% to pace all of the Dow Jones Industrial Average’s

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

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%.