Check out the companies making headlines in the pre-market on Friday:
Home Depot (HD), Lowe's (LOW) – An analyst at Oppenheimer downgraded both home improvement companies from "Outperform" to "Performance". He also lowered his target price on the two stocks, noting that in the short term, "we are increasingly concerned that the market is becoming too slack to reduce the chances of downshifting post-Covid-19 sales growth at HD / LOW and possible impact . " Shares. "Home Depot and Lowe's fell 1% and 1.4%, respectively.
Oracle (ORCL) – Oracle shares fell more than 1% after the Department of Commerce announced it would prevent US users from downloading TikTok or WeChat from September 20. The announcement comes as Oracle attempts to close a deal that it will become a U.S. business partner of TikTok parent ByteDance.
Ambarella (AMBA) – Ambarella shares rose more than 1% in the pre-market after a Berenberg analyst initiated the semiconductor design company with a buy rating and a price target of $ 67 per share. This price target implies an upward trend of 28.4% over the next 12 months. "While AMBA stock reflects recent concerns about the impact of churn in unfocused areas, we believe the company is going through the worst," said the analyst.
Dave & Buster & # 39; s (PLAY) – Dave & Buster & # 39; s was down nearly 10% as multiple analysts upgraded the stock, even after the company reportedly warned of possible bankruptcy if no deal was reached with its Lenders was made. Stifel and Raymond James were two of the companies that Dave & Buster & # 39; s upgraded. In a note, Stifel said the stock's recent pullback "creates an attractive entry point for investors with higher risk tolerance. Meanwhile, Raymond James said Thursday's pull-out" seems excessive "due to bankruptcy issues.
Beyond Meat (BYND) – A JPMorgan analyst downgraded Beyond Meat from neutral to underweight, dropping the stock more than 4%. "The stock is ahead of itself and we think the estimates are too high for the street as major competitor Impossible Foods participates in grocery stores and restaurants and is reluctant to add menu complexity during the Covid-19 crisis," the analyst said .
Tesla (TSLA) – Tesla shares rose 4% in the pre-market after an analyst at Piper Sandler raised his price target for the electric automaker from $ 480 per share to $ 515 per share. The new target implies an uptrend of 21.6% from Thursday's close of $ 423.43 per share. The analyst said the target hike came after examining Tesla's energy segment and determining, "We expect much higher demand for these products."
Foot Locker (FL) – Argus Research raised Foot Locker stocks to "buy" from "hold", highlighting that "have returned to stores with intent to buy goods," while digital sales are still strong are.