Stocks in focus in premarket trade on Tuesday, October 3rd.

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Point Biopharma  (NASDAQ:PNT) shares spiked after Eli Lilly & Co (NYSE:LLY) announced that it had agreed to buy the cancer biotech for around $1.4 billion to expand its oncology therapies into radioligand treatments, which deliver radiation to tumor cells at a closer range.

ALX Oncology  (NASDAQ:ALXO) shares soared after it unveiled interim mid-stage data for a trial of its drug treating advanced gastric cancer.

McCormick  (NYSE:MKC) stock slid after the spice maker posted weaker-than-expected net sales for the recent quarter and a bigger-than-anticipated drop in product volume due in part to flagging demand in its Asia-Pacific operations.

Airbnb  (NASDAQ:ABNB) shares fell after analysts at KeyBanc Capital Markets lowered their rating of the short-term home rental business, citing an easing in post-pandemic travel activity.

Warner Music Group  (NASDAQ:WMG) shares moved higher after analysts at UBS raised their rating of the entertainment firm to buy from neutral.

HP  (NYSE:HPQ) shares gained following an upgrade of the stock by Bank of America analysts to buy from underperform.

Oddity Tech Ltd.  (NASDAQ:ODD) stock climbed after analysts at Truist Securities improved their rating to buy from hold, citing the beauty and wellness platform’s “compelling” valuation.

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ANALYST RECOMMENDATIONS:

Albemarle Corp: KeyBanc Capital Markets maintains its overweight recommendation with a price target reduced from $291 to $254.

Alexandria Real: Wedbush maintains its outperform rating with a target price of $120.

American Express: Morgan Stanley maintains its cautious overweight recommendation with a target price reduced from $188 to $185.

Baker Hughes: Wells Fargo maintains its equalweight recommendation and reduces the target price from $37 to $36.

Bank of America: Morgan Stanley maintains its equal weight/in-line recommendation with a target price reduced from $34 to $32.

Boohoo Group: Jefferies maintains its buy recommendation with a price target reduced from £85 to £75.

Canadian National Railway: Stifel maintains its hold recommendation with a price target reduced from $125 to $122.

Capital One: Morgan Stanley maintains its underweight/cautious recommendation with a price target reduced from $92 to $86.

Celanese Corp: KeyBanc Capital Markets maintains its overweight recommendation with a price target raised from $149 to $150.

Cintas Corp: Baptista Research maintains its underperform recommendation with a price target reduced from $510 to $500.

Citigroup Inc: Morgan Stanley maintains its underweight/in-line recommendation with a target price reduced from $45 to $43.

Corteva: Baptista Research upgrades to buy from hold with a price target raised from $63.30 to $71.80.

Costco Wholesale: Baptista Research maintains its underperform recommendation with a price target raised from $514 to $549.50.

Dell: Morgan Stanley maintains its overweight/in-line recommendation and raises the target price from $70 to $87.

Dow: KeyBanc Capital Markets upgrades to sector weight from underweight.

Enphase Energy: Raymond James maintains its outperform rating and reduces the target price from $225 to $175.

Fmc Corp: KeyBanc Capital Markets maintains its overweight rating and reduces the target price from $117 to $107.

Ford Motor: Goldman Sachs maintains its neutral recommendation and reduces the target price from $14 to $13.

General Electric: Wolfe Research maintains its outperform rating and raises the target price from $131 to $134.

General Mills: Baptista Research upgrades to buy from hold with a price target reduced from $91 to $82.20.

General Motors: Goldman Sachs maintains its buy recommendation and reduces the target price from $49 to $47.

Goldman Sachs: Morgan Stanley maintains its equalwt/in-line recommendation with a target price reduced from $347 to $329.

Halliburton: Wells Fargo maintains its overweight rating and reduces the target price from $53 to $52.

Hewlett Packard: Baptista Research downgrades to underperform from hold with a price target reduced from $18.10 to $17.80.

Hp Inc: Baptista Research upgrades to outperform from hold with a price target reduced from $32.50 to $29.70.

JPMorgan Chase: Morgan Stanley maintains its overweight/in-line recommendation with a price target raised from $179 to $187.

Lyondellbasell: KeyBanc Capital Markets upgrades to sector weight from underweight.

Mcdonald’s: Jefferies maintains its buy recommendation and reduces the target price from $340 to $325.

Moody’s: Oppenheimer maintains its outperform rating and reduces the target price from $398 to $375.

Nike: Daiwa Securities maintains a neutral recommendation with a price target reduced from $114 to $100.

Norfolk Southern: Stifel maintains its buy recommendation and reduces the target price from $260 to $253.

Northern Trust: Morgan Stanley maintains its equal weight/in-line recommendation and reduces the target price from $92 to $86.

Nvidia: KeyBanc Capital Markets maintains its overweight recommendation and raises the target price from $670 to $50.

Paychex: Wedbush maintains its neutral recommendation with a price target raised from $115 to $125.

Pepsico: JP Morgan maintains its overweight rating and reduces the target price from $203 to $188.

Pnc Financial: Morgan Stanley maintains its underweight/in-line recommendation with a target price reduced from $144 to $142.

Procter & Gamble: Deutsche Bank maintains its buy recommendation with a price target reduced from $167 to $166.

Regeneron Pharm: Baptista Research downgrades to underperform from hold with a price target reduced from $793 to $767.30.

Royal Caribbean: Morgan Stanley maintains its equal weight/in-line recommendation with a target price reduced from $100 to $95.

S&P Global: Morgan Stanley maintains its overweight/in-line recommendation with a price target reduced from $450 to $424.

Schlumberger: Wells Fargo maintains its overweight recommendation and raises the target price from $72 to $76.

Starbucks: Jefferies maintains its hold recommendation with a price target reduced from $107 to $100.

Tesla: Goldman Sachs maintains its neutral recommendation with a price target reduced from $275 to $265.

Truist Financial: Morgan Stanley maintains its equal weight/in-line recommendation with a price target reduced from $41 to $40.