Eh, probably right. I just looked and Pete's Dragon did $76M Domestic and $143M WW.
A better comp may be either Oz the Great and Powerful or Cinderella (2015). Both of those carry the name of iconic fantasy movies and characters. Cinderella did just over $200M domestic whereas Oz did $235M, but Cinderella was at $543M WW whereas Oz failed to reach $500M ($493M).
I just don't know if I see this movie doing even those types of numbers though tbh. I do think internationally it will do well in Europe, though.