Shares of Energizer Holdings (ENR) plummeted 5.37% in Wednesday's pre-market trading session following a series of analyst downgrades and price target cuts. The battery maker's stock faced significant pressure as Wall Street expressed concerns over macroeconomic challenges and the company's high leverage.

Several prominent financial institutions revised their outlook on Energizer. JP Morgan reduced its price target from $28 to $23, while Canaccord Genuity made an even steeper cut, lowering its target from $29 to $20. Morgan Stanley also joined the bearish chorus, trimming its price target to $22 from $28 while maintaining an Equal Weight rating on the shares.

Analysts cited macroeconomic pressures as a key factor impacting Energizer's performance. Morgan Stanley analyst Dara Mohsenian maintained a Hold rating, highlighting concerns about the company's exposure to challenging market conditions. Additionally, the firm's high leverage was noted as a potential risk factor, contributing to the cautious outlook among investors. As Energizer grapples with these headwinds, market participants will be closely monitoring the company's ability to navigate the current economic landscape and manage its debt levels effectively.