Disney (DIS) reports earnings on Thursday, and investors will likely watch for updates on its parks and streaming businesses and any insights into CEO Bob Iger's succession plans. TD Cowen managing director of media and entertainment Doug Creutz, who has a Hold rating on the stock, explains why he is on the sidelines on Disney.

Creutz says "it's a combination of a few things" driving his Hold rating, specifically a difficult setup for continued margin expansion in its parks segment after "an incredible run in the parks division for the last few years coming out of the pandemic," headwinds in linear media, and weak subscriber growth in its streaming business. He adds, "I think [Disney is] fine," but "without knowing who's going to succeed [CEO Bob Iger after his 2026 retirement], it's very hard to get too bullish about the company."

The analyst says, "I don't know that there [are] any easy solutions here, which is why I have a Hold [rating] on [Disney stock], because I think if there was something I thought that they could do to make things a lot better, I sort of think they also would do it. And I just don't think there's any great silver bullets here to solve some of the issues they have."

For more on Disney's position going into its fourth quarter earnings report, how Disney+ stacks up to Netflix (NFLX), and more, watch the video above.

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This post was written by Naomi Buchanan.