Premarket Movers: Mag 7 stocks are higher alongside index futures (Nvidia +0.8%, Tesla +0.8%, Alphabet +0.6%, Apple +0.4%, Amazon +0.3%, Microsoft +0.3%, Meta +0.2%). Coinbase Global Inc. shares (COIN) are up 3.3% after Bernstein raised the target on it to $510, a Street high and 48% above Tuesday’s close. Duolingo Inc. shares (DUOL) are up 0.8% after Argus Research started coverage on the language-learning software company with a buy rating and $575 price target. FedEx shares (FDX) fall 5.7% after its first-quarter profit forecast missed analysts’ estimates and the parcel company said it wasn’t providing a profit outlook for the fiscal year due to uncertain global demand. Graphic Packaging (GPK) slips 1% as BNP Paribas Exane downgrades the stock amid lackluster demand in the paper and packaging sector. Nvidia (NVDA) rises 0.9% after its price target was lifted to a Street high of $250 from $175 at Loop Capital Markets, which says the chipmaker is positioned favorably into the next “golden wave” of Gen AI adoption. QXO Inc. shares (QXO) drop 6.3% as the building products distributor seeks to raise $2 billion in a share sale. The firm led by billionaire Brad Jacobs is pursuing a takeover. Reddit shares (RDDT) are up 3.5% in premarket trading, suggesting the social-media company would extend its latest short squeeze. TMC The Metals Co. shares (TMC) jump 4.1% after Wedbush analyst Daniel Ives raised the recommendation on the company to outperform from neutral, citing US President Donald Trump’s April executive order favoring deep-sea mining. Yum! Brands Inc. shares (YUM) are up 1.5% after JPMorgan upgraded the operator of such chains as KFC and Taco Bell to overweight from neutral.