Today's Pre-Market Stock Movers And Top Ratings: JPM, ZG, TM, ZION and More

$Zillow-A(ZG.US)$ +5.5% (Zillow Group was upgraded by Piper Sandler to overweight from neutral. Analyst Thomas Champion also hiked his price target to $62 per share, suggesting 33% upside from Monday's close.)

$JPMorgan(JPM.US)$ +1.2% (JPMorgan Chase was upgraded from Jefferies to buy from hold. The firm also labeled JPMorgan Chase as“best-in-class.")

$3M(MMM.US)$ +2% (Shares rose nearly 2% in premarket trading following an upgrade to neutral from underperform by Bank of America. The bank said 3M has positive catalysts ahead related to litigation settlements, restructuring and the planned spin-off for the health care business.)

$U.S. Bancorp(USB.US)$ +2.2% (U.S. Bancorp was upgraded to buy from neutral by Bank of America. Analyst Ebrahim Poonawala said U.S. Bancorp is among the highest quality franchises in the U.S. banking industry, with its scale, earnings and strong execution expected to drive superior earnings growth and stock outperformance.)

$JetBlue Airways(JBLU.US)$ -2% (JetBlue Airways lost in premarket after Evercore ISI downgraded the airline to underweight, citing the recent sharp rally in shares and balance sheet concerns.)

$Iovance Biotherapeutics(IOVA.US)$ -13.54% (Iovance Biotherapeutics fell more than 11%. The biotech company on Monday said the pricing of its underwritten public offering, of 20 million shares of common stock, would be at $7.50 per share. The gross proceeds from the offering are set to be about $150 million.)

$Murphy Oil(MUR.US)$ initiated at overweight by Keybanc, announced target price at $47.00.

$Commercial Metals(CMC.US)$ initiated at buy by UBS, announced targe price at $63.00.

$JPMorgan(JPM.US)$ was upgraded by Jefferies from hold to buy, increased target price from $149.00 to $165.00.

$Zillow-A(ZG.US)$ was upgraded by Piper Sandler from neutral to overweight, increased target price from $42.00 to $62.00.

$Toyota Motor(TM.US)$ was downgraded by Morgan Stanley from overweight to equal-weight.

$Zions Bancorp(ZION.US)$ was downgraded by Jefferies from buy to hold, decreased target price from $37.00 to $30.00.