Today's Pre-Market Stock Movers: PYPL, WYNN, TSLA, HZN and More

Movers and Shakers wrote a column · Jan 3, 2023 21:04

Gapping up

$Coty Inc (COTY.US)$ +2.7% (Piper Sandler upgraded it to overweight from neutral. Coty is increasing exposure to China and travel retail, which should allow for recovery tailwinds, analyst Korinne Wolfmeyer said.)

$PayPal (PYPL.US)$ +3% (The company received an upgrade to a buy from a hold rating by Truist. The bank lifted its price target on the digital payments stock, saying that estimates now look reasonable.)

$Wynn Resorts (WYNN.US)$ +3%, $Las Vegas Sands (LVS.US)$+2% (Wells Fargo upgraded Wynn Resorts to overweight from equal weight on Macau reopening optimism.)

$Horizon Global (HZN.US)$ +337.24% (The company agreed to a merger with First Brands Group.)

$Swvl Holdings (SWVL.US)$ +67% (the company initiated strategic review process.)

Gapping down

$Tesla (TSLA.US)$ -5% (The company reported a record 40% growth in deliveries. However, the numbers missed analyst expectations. JPMorgan analyst Ryan Brinkman cut his price target on the stock Tuesday, saying he sees more downside ahead.)

$Molson Coors Beverage (TAP.US)$ -1% (The company was downgraded to underweight from equal weight by Wells Fargo, which said it sees significant downside to street estimates in 2023.)

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