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Keep An Eye Out: Pre-Market Movers And Analyst Recommendations

Bruno T
Analysis & Opinion
November 28 2023 02:06AM

Today, all eyes are focused on U.S. CB consumer confidence data in a couple of hours. Economists, on average, forecast that November CB Consumer Confidence will stand at 101.0, compared to the previous figure of 102.6.

Also, investors will likely focus on the U.S. S&P/CS HPI composite – 20 n.s.a, which came in at +2.2% y/y in August. Economists foresee the September figure to be +4.0% y/y.

The U.S. Richmond manufacturing index will be reported today as well. Economists expect November’s figure to be 1, compared to the previous value of 3.

In addition, market participants will be looking toward a batch of speeches from Fed officials Goolsbee, Waller, and Bowman.

In the bond markets, United States 10-year rates are at 4.400%, up +0.29%.

Pre-Market U.S. Stock Movers

ESGL Holdings (NASDAQ:ESGL) surged about +91% in pre-market trading after announcing a multi-year contract renewal with Singapore Refining Company Private Limited.

Zscaler (NASDAQ:ZS) plunged over -6% in pre-market trading after the cybersecurity company reported upbeat Q1 results and issued solid FY24 EPS and revenue guidance but declined to lift its full-year billings forecast.

Carlyle Group (NASDAQ:CG) climbed more than +5% in pre-market trading after announcing admission to the S&P MidCap 400 index.

Boeing (NYSE:BA) gained over +1% in pre-market trading after RBC Capital upgraded the stock to Outperform from Sector Perform.

Edwards Lifesciences (NYSE:EW) dropped more than -2% in pre-market trading after Wolfe Research downgraded the stock to Underperform from Peer Perform.

Today’s U.S. Earnings Spotlight: Tuesday – November 28th

Intuit (INTU), Workday (WDAY), Bank of Nova Scotia (BNS), CrowdStrike Holdings (CRWD), Splunk (SPLK), Hewlett Packard (HPE), NetApp (NTAP), Azek Company (AZEK), Fluence Energy (FLNC), Alvotech (ALVO), Leslies (LESL), Tuya (TUYA), Nano Dimension (NNDM), Nano X (NNOX), MYT Netherlands (MYTE), Citi Trends (CTRN).

ANALYST RECOMMENDATIONS

Boeing: RBC Capital upgrades to outperform from sector perform with a price target raised from $200 to $275.

Datadog: Cowen maintains its outperform rating and raises the target price from $130 to $140.

Edwards Lifesciences Corporation: Wolfe Research downgrades to underperform from peerperform with a target price of $57.

Estee Lauder: HSBC initiates a Buy recommendation with a target price of $180.

Insulet Corporation: Barclays maintains its equalweight recommendation and reduces the target price from $257 to $214.

L3harris Technologies: Wells Fargo maintains its overweight recommendation and raises the target price from $211 to $230.

Linde: Redburn Atlantic maintains its buy recommendation and raises the target price from $400 to $440.

Mcdonald’s Corporation: Deutsche Bank maintains its buy recommendation and raises the target price from $295 to $313.

Morgan Stanley: Societe Generale downgrades to hold from buy with a price target reduced from $95 to $80.

Qualcomm: Daiwa Securities maintains its outperform rating and raises the target price from $125 to $145.

Shopify: Piper Sandler & Co downgrades to underweight from neutral with a price target reduced from $58 to $56.

Snowflake: BNP Paribas Exane maintains its neutral recommendation with a price target raised from $162 to $183.

Thermo Fisher Scientific: Citigroup maintains its outperform recommendation and reduces the target price from $535 to $500.

Welltower: RBC Capital downgrades to sector perform from outperform with a price target raised from $92 to $97.

Zscaler: Baird maintains its outperform rating and raises the target price from $185 to $210.