Today's Pre-Market Stock Movers: SHOP, MGM, GS, MDB and More
Gapping up
$Shopify (SHOP.US)$ +2.4% (JMP upgraded Shopify to market outperform from market perform. The firm assigned the company a price target of $65 per share, implying a 45.1% upside from Tuesday's close. )
$MongoDB (MDB.US)$ +2.8% (Morgan Stanley upgraded MongoDB to overweight from equal weight, citing the company’s leadership in cloud optimization initiatives. The firm raised its price target to $270, which suggests shares could gain 27.6% from Tuesday’s close.)
$Goldman Sachs (GS.US)$ +1.34% (UBS upgraded the stock to buy from neutral, saying the company is attractively priced with minimum risk ahead. Analyst Brennan Hawken increased his price target to $385 from $350, suggesting shares stand to gain 17.6% from Tuesday's close price.)
$MGM Resorts International (MGM.US)$ +1.5% (JPMorgan reaffirmed its overweight rating on the company, saying it raised its 2023-2024 Macao estimates on MGM and views its strong upcoming events calendar as a growth catalyst. The firm also lifted its price target to $55, which suggests a 27% from Tuesday's closing price.)
$Global Payments (GPN.US)$ +2% (Goldman upgraded the fintech company to buy and assigned a $127 price target, implying about 20% upside from Tuesday's close. "We believe the merchant business is poised to sustain somewhat better than feared trends as currency headwinds fade, aided by a stronger start to the year in 1Q23," Goldman analysts wrote in a note sent to clients on Tuesday.)
$Triton International (TRTN.US)$ +28%, $Brookfield (BN.US)$ +2% (Triton will be acquired by Brookfield Infrastructure. Triton shareholders will receive consideration valued at $85 per share in cash and stock.)
Gapping down
$Tesla (TSLA.US)$ -0.4% (The Environmental Protection Agency of tighter tailpipe emission standards, which will make he electric-vehicle giant harder and more expensive to sell cars that burn gasoline and emit carbon dioxide. )
Source: Dow Jones, CNBC
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