Shares of Disney  (DIS) were lower in early afternoon trading on Thursday after Bernstein came out with a note this morning saying that it didn't hate the idea of the entertainment company buying video streaming service Netflix  (NFLX) . 

"Decline of Disney's core TV network businesses is likely to happen anyway and a purchase would allow DIS to own a solution instead of having to build one," the firm wrote in the note. 

I'm sure Disney appreciates a firm telling it how to spend its money, Virtus Investment Partners Chief Market Strategist Joe Terranova said with sarcasm on CNBC's "Halftime Report" this afternoon. 

While Disney was a "must-have" name on the institutional side from 2011 to 2015, it ended up falling out of favor, Terranova noted. Institutional money managers put Disney "on the sidelines" and went after the FANG group, including Facebook  (FB) Amazon.com  (AMZN) , Netflix (NFLX) and Alphabet  (GOOGL) . 

But now the tables have turned and everyone is "rushing" to buy shares of Disney again, and it's going to go above $100, he claimed. "People have taken their positions below what they should be." 

In addition, Disney's film studio is "killing it," Najarian Family Office co-founder Jon Najarian said. The company's animated film "Moana" topped the box office this past weekend, and it's releasing a new Star Wars film called "Rogue One" in mid-December. 

If you liked this article you might like

Market Selloff Survival Strategies: Cramer's 'Mad Money' Recap (Thurs 9/21/17)

Royal Caribbean Cruise Set to Sail Through Caribbean Hurricane Disasters?

Microsoft's New Xbox One X Shows It's Done Trying to Please Everyone

'The Handmaid's Tale' Emmy Win Is Really Big for Netflix

Stocks Dad Would Have Loved, And Why He Was Right