Look at the firms that are generating news in the premarket trade.
Verify — Following a Tuesday upgrade to hold at Jefferies, the fintech company that offers “buy now pay later” services saw a 2% increase. “Recent signs of stabilising cost of capital and capital markets activity, stabilising (if not improving) credit performance, and sustained momentum in adoption rates for BNPL” served as the foundation for the upgrade.
Crocs (?) Following a Tuesday upgrade to strong buy at Raymond James, the maker of recognisable, soft footwear saw a rise of more than 2.3%. As we go towards 2024, analyst Rick Patel is more optimistic about Crocs’ business structure and believes that the company’s price-to-earnings ratio is “very undervalued given our assumption of moderate revenue growth.”
Boeing — The 737 Max manufacturer outperformed at RBC Capital Markets, gaining almost 2% premarket on an upgrade. The demand in Boeing’s commercial and defence industries is expected to increase more sustainably through 2024, according to analyst Ken Herber.
The Light — After being upgraded to speculative buy at Benchmark, shares of the company that manufactures fibre lasers, semiconductor lasers, and optical fibres increased by more than 4%. The company announced that it has secured a $35 million army contract to develop a high intensity laser, which “may lead to orders which we estimate might be up to dozens of laser systems in 24-to-36 months time.”
The Carlyle Group Following its inclusion in the S&P SmallCap 600 index effective premarket on Thursday, the private equity asset manager, which has about $400 billion under management, surged more than 5% in the premarket.
Glaukos Enterprises — Truist began covering the medical device stock with a buy rating, and shares of the company surged by 2.4%. In addition to higher profit margins, analyst Samuel Brodovsky predicted that Glaukos’ revenue growth would reach 20% or higher in 2025.
Source (CNBC)
