Check out the companies making the biggest moves in premarket trading:
Colgate-Palmolive — The maker of household and personal care products saw shares add more than 1% premarket after Morgan Stanley analysts upgraded the stock to overweight from equal weight. The Wall Street investment firm said the recent dropdown in shares create an attractive entry point for investors.
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Boot Barn — The retailer was downgraded to neutral from outperform by Baird, which cited concerns over macroeconomic risks for the sector. Boot Barn shed 2.5% during premarket trading.
Retail stocks — Shares of Macy’s rose 0.35% in early trading after Goldman Sachs said it is best-positioned in retail with solid upside. Kohl’s dipped 2.4% after the firm rated it a sell, and Nordstrom shares ticked lower after Goldman downgraded it to neutral.
Tesla — The electric-vehicle maker was upgraded by Berenberg, which said Tesla’s price cuts are part of a broader strategy and that battery cell production is another opportunity for the company to scale. Tesla was down less than 1% in the premarket.
Salesforce — Morgan Stanley boosted its price target on the software stock to $236 from $228 per share, implying 43% upside from Friday’s close. The stock, however, was down more than 1% in premarket trading.
Intel — The chipmaker shed 1.5% in the premarket, after its fourth-quarter financial results missed Wall Street’s expectations on Friday. Intel, which lost 9% on Friday, also forecast a loss for the current quarter.
Coinbase – JMP Securities reiterated its outperform rating on the stock, which has rallied 85% since the start of trading Jan. 9, analysts said in a note Friday. Coinbase, however, was down 2.7% in the premarket.
— CNBC’s Samantha Subin, Carmen Reinicke and Michael Bloom contributed reporting.
Source: Finance - cnbc.com
