MoffettNathanson downgrades Disney ahead of earnings on Tuesday

On Monday, analysts at MoffettNathanson downgraded shares of Disney from buy to neutral and reduced their price target by $8 to $112 due to economic pressures from COVID-19. The analysts expect to see further pressure on earnings (which Disney reports on Tuesday, May 5), limiting the stock’s performance for the near-to-medium term despite the company’s strong position longer-term.