Check out the companies making headlines before the bell Monday:
Dunkin' Brands (DNKN) — Dunkin' shares rallied more than 15% in the premarket after the company said it was in talks to be acquired by Inspire Brands, the owner of restaurant chains Arby's and Jimmy John's. The New York Times said a deal would take Dunkin' Brands private for $106.50 per share, which would be 20% above the stock's closing price of $88.79 per share on Friday.
AstraZeneca (AZN) — Astrazeneca shares gained 0.8% after the drugmaker said its coronavirus vaccine candidate produced a similar immune response in older and younger adults during a clinical trial.
Hasbro (HAS) — Hasbro reported third-quarter earnings per share and revenue that beat analysts' expectations. The company posted a profit of $1.88 per share on revenue of $1.78 billion. Wall Street was expecting earnings of $1.63 per share on revenue of $1.74 billion, according to FactSet. The stock was down more than 2%, however, as the company's sales for its TV, film and entertainment division fell short of estimates.
Kontoor Brands (KTB) — A Bank of America analyst upgraded Kontoor Brands shares to "buy" from "underperform," and hiked its price target to $38 per share from $17 per share. "We think consensus is underestimating KTB's sales trajectory, which should benefit from new distribution starting in 2H20 … another likely round of US stimulus supporting its lower income consumer and a healthier distribution footprint vs. peers," the analyst said. Kontoor shares traded 0.5% higher in the premarket at $32.60.
Facebook (FB) — KeyBanc Capital Markets raised its price target on the social media giant to $340 per share, citing an "attractive" valuation. "We believe regulatory concerns have exerted downward pressure on valuation multiples," KeyBanc said.
Lululemon (LULU) — Lululemon shares climbed 0.8% after a JPMorgan analyst raised his price target on the athletic apparel maker's stock to $415 per share from $387 per share. The new price target implies a 12-month upside of 24.3% from Friday's close of $333.92 per share. The analyst cited potential upside from "multiple incremental initiatives," including appointment shopping, virtual waiting lists and increased pop-up stores.
Winnebago (WGO) — Winnebago shares were up more than 2% on the back of a Citi analyst upgrade to "buy" from "neutral." The analyst said "the attractiveness of the RV lifestyle is here to stay" as a return to travel on planes and cruises remains "several years away."
Palantir Technologies (PLTR) — JPMorgan and Jefferies initiated coverage of the stock with "buy" ratings, citing the company's data-collecting prowess and capabilities. Palantir went public late last month. Analysts at Goldman Sachs and Credit Suisse initiated Palantir with "neutral" ratings.
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