Here is your Pro Recap of the biggest analyst cuts you may have missed since yesterday: downgrades at Pfizer, Walt Disney, Delek Logistics, and Inter.
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Pfizer downgraded to Neutral
Credit Suisse downgraded Pfizer (NYSE:PFE) to Neutral from Outperform and cut its price target to $40.00 from $47.00, as reported in real-time on InvestingPro.
According to the firm, Pfizer enters a period of uncertainty and limited pipeline catalysts following negative updates. As a result, its 2023 EPS estimate was cut to $3.30 from $3.32, and 2030 EPS to $3.09 from $3.25.
Walt Disney cut to Sector Weight at KeyBanc
KeyBanc downgraded Walt Disney (NYSE:DIS) to Sector Weight from Overweight, noting it prefers to step aside, acknowledge meaningful uncertainty, and wait for further catalysts.
The firm presented several reasons for stepping aside, including overly optimistic expectations for Domestic Parks, halted DTC subscriber growth, and the company's inability to differentiate its DTC churn from its peers.
Furthermore, the transition of ESPN to streaming is proving to be significantly more challenging than initially anticipated, as KeyBanc’s survey indicates a low willingness to pay. Lastly, structural changes in content distribution have led to Disney's content sales segment business which is unlikely to make money for the foreseeable future.
2 more downgrades
Citi downgraded Delek Logistics Partners (NYSE:DKL) to Sell from Neutral with a price target of $47.00.
Inter (NASDAQ:INTR) shares fell more than 3% pre-market today after JPMorgan downgraded the company to Neutral from Overweight.
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