During Premarket hours today (Tuesday – 03.01.2023):
- Tesla (Symbol: TSLA) — Shares fell -5% after reporting 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.
- PayPal (Symbol: PYPL) — Shares gained nearly +3% premarket following 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 (Symbol: WYNN), Las Vegas Sands (Symbol: LVS) — Shares of Wynn Resorts jumped +3% in premarket trading after Wells Fargo upgraded the casino stock to overweight from equal weight on Macau reopening optimism. Other Macau-exposed casinos rose in tandem, with Las Vegas Sands up +2%.
- Molson Coors Beverage (Symbol: TAP) — Molson Coors Beverage dipped -1% after being downgraded to underweight from equal weight by Wells Fargo, which said it sees significant downside to street estimates in 2023.
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