Stocks (^DJI,^GSPC, ^IXIC) are moving higher in early trading on Monday as investors await the latest decision on interest rates from the Federal Reserve, which will come on Wednesday.
Tesla (TSLA) is a stock on the move. Goldman Sachs cut its price target on the shares to $190 from $220 citing near-term challenges. It comes as the EV maker announces it will increase the price of its Model Y in April in both the US and Europe.
PepsiCo (PEP) shares are on the rise after analysts at Morgan Stanley upgraded its shares to Overweight from Equal Weight, deeming it a "top pick."
Shares of HashiCorp (HCP) are moving higher following a Bloomberg report that the software company is exploring a potential sale.
Yahoo Finance's Brad Smith takes a closer look at some of Monday morning's trending tickers.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Stephanie Mikulich.
Video Transcript
BRAD SMITH: Let's take a look at how things are shaping up right now. Markets are higher as investors await the latest policy decision from the Federal Reserve, that's Wednesday. All eyes will be on that dot plot to get a sense of the rate cuts to come this year.
Now to some trending tickers that we're tracking here this morning. Goldman Sachs trimmed its price target on Tesla from $220 a share to $190 a share. The company faces a slew of production market headwinds, and analyst Mark Delaney saying that Tesla is well positioned for longer-term growth, but softer near-term EV market conditions are seen weighing on earnings. Shares still higher today right now by about 2.4%.
Meanwhile, Morgan Stanley says it's time to buy shares of Pepsi. Analyst Dara Mohsenian saying that they are upgrading the beverage and snack giants to overweight from equal weight calling it a "top pick." The new price target of $190 indicates a 15.4% upside over the next 12 months.
And finally, shares of San Francisco-based software provider HashiCorp are rallying today following a report from Bloomberg citing that the company has been exploring options that include a sale. HashiCorp's software helps companies in a range of industries set up their digital infrastructure in the cloud. No details of the sale have been reported yet according to Bloomberg. Shares of HashiCorp up 8% right now.
