Walt Disney slashed to Neutral, Procter & Gamble cut to Hold By Investing.com

Walt Disney slashed to Neutral, Procter & Gamble cut to Hold By Investing.com

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Here is your Pro Recap of the biggest analyst cut you may have missed since yesterday: downgrades for Walt Disney, Procter & Gamble, Nutanix, and PBF Energy.

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Walt Disney downgrades to Neutral

Macquarie downgraded Walt Disney (NYSE:) to Neutral from Outperform and cut its price target to $103.00 from $125.00, as InvestingPro reported in real time.

According to the report from yesterday, the company is canceling its plans to construct a nearly $1 billion corporate campus in central Florida, which was intended to accommodate 2,000 employees. The decision was communicated to employees via an email on Thursday, and it comes amidst the company’s ongoing legal dispute with Florida Governor Ron DeSantis.

Last week, the company reported its Q2 earnings, highlighted by in-line miss.

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Procter & Gamble downgraded due to lack of catalysts

Truist Securities downgraded Procter & Gamble (NYSE:) to Hold from Buy and cut its price target to $155.00 from $165.00, noting that the current valuation of the stock fully reflects the company’s turnaround efforts.

Furthermore, Truist believes investors may be overreading the company’s Q3 beat last month, believing that the company’s core consumer is largely unaffected by price increases taken over the past 18 months. The firm doesn’t see the catalysts on the horizon to recommend new money to the name at current levels.

2 more downgrades

OTR Global downgraded Nutanix (NASDAQ:) to Mixed from Positive.

The company is set to report its Q3/23 earnings on May 24.

Mizuho Securities downgraded PBF Energy (NYSE:) to Neutral from Buy with a price target of $41.00.

Earlier this month, the company reported its Q1 results, with coming in better than the Street estimates.

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