A Tesla vehicle is displayed at a Manhattan dealership on January 30, 2020 in New York City.
Spencer Platt | Getty Images
Check out the companies making the biggest moves in the premarket:
Tesla Shares fell 5% after posting a record 40% increase in deliveries. However, the figures did not meet the expectations of analysts. JPMorgan analyst Ryan Brinkman cut his price target on the stock on Tuesday, saying he sees further downsides.
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Koti — The stock rose 2.7% after Piper Sandler moved from neutral to overweight. Analyst Corinne Wolfmeyer said Coty is increasing its exposure to China and travel retail, which should allow for recovery tailwinds.
paypal Shares gained about 3% premarket after Truist upgraded from a hold rating to a buy. The bank removed its price target on the digital payments stock saying valuations now look reasonable.
Wynn Resorts, las vegas sands — Shares of Wynn Resorts jumped 3% in premarket trading after Wells Fargo upgraded the casino stock to overweight from equal weight on optimism about Macau’s reopening. Other Macau-exposed casinos grew in tandem with Las Vegas Sands by 2% and MGM Resorts more than 1%.
Molson Coors Beverage — Molson Coors Beverages downgraded to underweight from equal weight after Wells Fargo said it sees a significant downgrade in 2023 street estimates.
Linde – The stock fell nearly 3% after Reuters reported Russia froze German industrial gas company with assets of about $500 million. Linde had a contract with Russian companies for a new gas complex, but he informed his partners that he had suspended his work due to EU sanctions imposed after Russia invaded Ukraine.
— CNBC’s Yun Lee and Samantha Subin contributed reporting