Sunrun, Sunnova, First Solar — Shares of the solar companies gained more than 1% each after being upgraded by Wells Fargo to overweight from equal weight. Analysts cited an improved regulatory backdrop in 2023 and long-term tailwinds, including ESG mandates and government and corporate de-carbonization goals.
Discover Financial, Synchrony Financial — The consumer finance stocks were under pressure after being downgraded by Barclays to equal weight from overweight. Barclays analyst Mark Devries said in a note that these stocks are likely to fall if the economy enters a recession. Discover dipped 1.5% in premarket trading, while Synchrony lost 1.8%.
