A Tesla vehicle is displayed in a Manhattan dealership on January 30, 2020 in New York City.Spencer Platt | Getty ImagesCheck out the companies making the biggest moves in the premarket:Tesla — 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.Coty — The stock rose 2.7% after being upgraded by Piper Sandler to overweight from neutral. Coty is increasing exposure to China and travel retail, which should allow for recovery tailwinds, analyst Korinne Wolfmeyer said.PayPal — 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, 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 Macau reopening optimism. Other Macau-exposed casinos rose in tandem, with Las Vegas Sands up 2% and MGM Resorts up over 1%.Molson Coors Beverage — 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.Linde — The stock dropped nearly 3% after Reuters reported that Russia froze almost $500 million of assets of the German industrial gas company. Linde had a contract with Russian companies for a new gas complex but notified its partners it had suspended its work due to European Union sanctions imposed after Russia invaded Ukraine.— CNBC’s Yun Li and Samantha Subin contributed reporting

Source link